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How Congress could address Social Security insolvency – and the hidden cost

How Congress could address Social Security insolvency – and the hidden cost

Social Security is expected to reach insolvency within a decade, and with the key safety net program facing the prospect of automatic benefit cuts when that occurs, a critical debate over the cost of replacing that revenue could be obscured by a budget rule.Kent Smetters, faculty director of the Penn Wharton Budget Model, spoke exclusively with FOX Business about a new report that details how federal budget rules assume Social Security benefits would be paid in full using general revenue transfers when the program's trust funds reach insolvency in about six or seven years."What the law actuall...

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Wayne G Fraser
HALO Contributor
Insurance Broker Insurance Industry
State Georgia, North Carolina, South Carolina
NPN 17934945

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