Trustees Warn: Social Security in Financial Trouble
Social Security’s finances are facing growing pressure due to the aging of the population.
https://www.pgpf.org/analysis/2017/07/trustees-warn-social-security-in-financial-trouble
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Social Security’s finances are facing growing pressure due to the aging of the population.
https://www.pgpf.org/analysis/2017/07/trustees-warn-social-security-in-financial-trouble
The combined Social Security trust funds are projected to be fully depleted by 2034 — just 18 years from now.
https://www.pgpf.org/analysis/2016/06/trustees-warn-social-security-in-financial-trouble
In the waning days of 2012 and early hours of 2013, U.S. policymakers struggled with how to address the "fiscal cliff" — a set of scheduled tax increases and spending cuts that, if allowed to take effect, could have pushed the economy into another recession.
https://www.pgpf.org/analysis/past-the-cliff-but-not-out-of-the-woods
CBO projects that federal debt will remain at historically high levels over the next decade under current laws and warns that such high levels of debt could harm the economy.
https://www.pgpf.org/analysis/cbo-warns-deficit-drop-is-temporary
The poverty rate in 2009 was 14.3 percent, up from 13.2 percent in 2008. This is the highest rate since 1994.
https://www.pgpf.org/analysis/census-bureau-report-on-poverty-and-health-insurance-coverage
The report projects that in 2018 — for the first time since 1982 — the program’s total costs will exceed its total income.
The Peter G. Peterson Foundation designed the Solutions Initiative, which asked six organizations representing the wide scope of American political thought to develop comprehensive plans for putting the country on a fiscally sustainable long-term path.
https://www.pgpf.org/analysis/the-2011-fiscal-summit-the-solutions-initiative
Though the economy continues its recovery and we have made some progress on deficits, our deficits will begin growing again soon, and major long-term fiscal challenges remain.
The paper puts real numbers behind different scenarios for a structure for tax reform: eliminating income tax expenditures to enable lower tax rates.
Policymakers should build on this foundation of bipartisanship to begin the significant further reforms that are necessary to put our nation on a sustainable fiscal path.