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Politics : The Trump Presidency -- Ignore unavailable to you. Want to Upgrade?

To: i-node who wrote (3647)	12/27/2016 12:54:27 PM
From: bentway	Read Replies (1) \| Respond to of 355700

Raise the cap, then means test payouts (if needed) to start. We're going to have to start taxing robots too! Trust Fund Cash Flows and Reserves, 1980–2040In 1980, the OASDI trust fund reserves were low and declining. Congress enacted changes in 1983 (discussed later) that enabled reserves to begin to accumulate. In the 2014 edition of the Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds (henceforth, the Trustees Report), reserves are projected to peak around 2020 and to be depleted around 2033 if no changes are made to the tax or benefit provisions before then. 6 (Once the reserves are depleted, an estimated 77 percent of scheduled benefits would continue to be payable from tax receipts alone.) Chart 1 shows the annual cash flows underlying this rise and fall relative to gross domestic product (GDP). Chart 2 shows the reserve levels under six alternative measures. The overall patterns, if not the exact depletion date, have changed little over the years: For example, charts showing similar projections that appear in Hambor (1987) closely resemble Chart 2, panels A and D. Chart 1. OASDI trust fund cash flows as percentages of GDP, 1980–2040