Reported 26 days ago
The Congressional Budget Office (CBO) has released a report indicating that the Old-Age and Survivors Insurance (OASI) Trust Fund for Social Security is projected to deplete by 2034, while the Disability Insurance (DI) Trust Fund may run out by 2064. The report suggests that by 2034, revenues will no longer cover benefits, leading to possible solutions such as increasing the payroll tax or reducing benefits. This bleak outlook continues a trend of ongoing concerns regarding the program, which is vital for retirees relying on these funds for income.
Source: YAHOO