Watch: Unpacking the Social Security Trustees' Report
The Committee for a Responsible Federal Budget hosted a lunch and panel discussion today on Unpacking the Social Security Trustees' Report.
You can watch C-SPAN's coverage of the conversation on the Trustees' findings and the future of Social Security below.
Social Security will be insolvent in only 16 years according to the 2019 Trustees' Report, which means that the system will not be able to pay full benefits to current retirees. It's no longer a problem for our children or grandchildren but for current retirees and those approaching retirement age. Unless something is done to extend the program's solvency, all beneficiaries will face a 20 percent across-the-board cut in benefits once the trust funds become depleted in 2035. Policymakers cannot afford to wait much longer, as the tax increases and benefit cuts necessary to make Social Security solvent will only become larger and more abrupt as time passes.
Today's panelists include:
- Kate Davidson (moderator), The Wall Street Journal
- Jason Fichtner, Johns Hopkins University
- Maya MacGuineas, Committee for a Responsible Federal Budget
- Ben Ritz, Progressive Policy Institute
- Marc Goldwein, Committee for a Responsible Federal Budget