Subject: Social Security
The clock is ticking to fix Social Security as retirees face automatic cut in 9 years
https://www.npr.org/2024/05/06...

The report from Social Security trustees predicts the retirement program's trust fund will be exhausted in November of 2033. At that point, benefits would automatically be cut by 21%, unless lawmakers adopt changes before then.

There's some good news in the new forecast. Thanks to higher-than-expected worker productivity and a decline in expected disabilities, Social Security isn't burning through cash as fast as trustees predicted a year ago.
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Medicare's finances have also improved somewhat in the last year, thanks to a strong economy and lower-than-expected spending. Still, the program which provides health care for nearly 67 million people, is expected to face its own cash crunch in 2036.

One wonders if a pandemic that killed over 1 million mainly older people played a part...

Got my SS statement last week. If I pay no more in, at full retirement age I'll be due $42k/year. Or not, per the above.

Raising the FICA cap seems like a pretty straightforward move towards increased funding. I'll wager many folks don't even know there is a FICA cap.

https://www.investopedia.com/a...