Combined Social Security Trust Fund only 13 years from insolvency, trustees report

Bethany Blankley  |  September 22, 2021

By Bethany Blankley, includes “… in 2020 income security payments exceeded Social Security payouts after the federal government began providing payments to states and individuals to offset losses due to state pandemic shutdowns imposed by governors. … ‘The federal government argues that the massive unfunded obligations in Social Security should not be a liability on its balance sheet because the government controls the law, and can change it at any time,’ explained Bill Bergman, director of research at TIA. ‘On that reasoning, the government should stop including Social Security as a 'mandatory' program in the federal budget.’ …”

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