SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : The Trump Presidency
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: koan who wrote (75513)6/5/2018 12:51:38 AM
From: Wharf Rat1 Recommendation

Recommended By
i-node

  Read Replies (1) of 363494
 
From your article:

"Social Security was definitely not “teetering on the edge of bankruptcy” in 1981 as Reagan claimed in his letter to Congressional leaders"


From the '82 Trustee's report:


This section summarizes the more important developments since the 1981 Annual Report was issued and describes the major features of this year's report. These topics are discussed in more detail in later sections. Financial status of the trust funds Without corrective legislation in the very near future, the Old-Age and Survivors Insurance Trust Fund will be unable to make benefit payments on time beginning no later than July 1983. Under present law, and on the basis of any reasonable set of economic assumptions, the expenditures of the OASI program will continue to exceed income from payroll taxes and other sources through at least 1986. To date, benefit payments have been made on a timely basis by drawing down the assets of the OASI Trust Fund to cover the shortfall. This, of course, is the fund's purpose: to act as a contingency reserve during temporary periods when outgo exceeds income. At this time, however, the assets of the OASI Trust Fund have been reduced to such a low level that they will not be able to continue making up the difference between outgo and income much longer. If assets are allowed to decline to the point where their amount at the end of a particular month is less than the benefit payments falling due on the third of the following month, inability to pay some benefits on time for that month would result.
ssa.gov

From '83

The Social Security Amendments of 1983 have restored the financial integrity of the Social Security cash benefit program for many years into the future. The program is now estimated to be adequately financed during this decade based on all four sets of actuarial assumptions used in the 1983 Trustees Report. On the basis of all but the most pessimistic of the four sets of assumptions used, the program is now estimated to be financially sound over the next 75 years.

ssa.gov
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News