CONGRESS MUST KEEP SOCIAL SECURITY SOLVENT FOR GENERATIONS TO COME
The reality of how our combined OASI (Old-Age and Survivors Insurance) and DI (Disability Insurance) trusts are actually managed has been skewed to point to mismanagement and a raid on our personal futures. The far right has been peddling these lies for years. The truth is that the Social Security trust is adequately financed and can pay full benefits for almost twenty years to come. In fact, the Social Security trust has run a surplus for more than 30 years and will continue that run through at least 2021. The question that should be asked is how can we ensure that the actuarial 1% shortfall over the next 75 years is avoided. As Stephen Goss, Chief Actuary for the Social Security Administration put it, “Fortunately, in the entire 82-year history of the program, the Congress has always made timely adjustments in the law to avoid reserve depletion and any sudden reduction in benefits paid.” To avoid any reduction of benefits paid to people with disabilities after 2028 and any reduction in benefits to retirees after 2034, the Congress must get back to the business of representation. Beneficiaries will be best served when politicians end the ideological partisanship and pay attention to the actuarial reports and recommendations that have kept the Social Security Trust Fund a reliable American institution for the past 82 years.