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Save Current SSY Agreement

Save Current SSY Agreement

Aug 6th, 2022

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How to Save Current SSY Agreement

4.9 out of 5

15 votes

The video discusses the challenges facing the Social Security system, highlighting that the trust fund may be depleted by 2035, or even as early as 2033, according to reports from the Social Security trustees and the Congressional Budget Office. If no action is taken, benefits could be cut by 20% to 25%. Currently, there is no provision in law for transferring from the general treasury to mitigate these cuts. However, the speaker does not expect across-the-board cuts for current beneficiaries or those nearing retirement. They believe reform will occur, preserving benefits for existing recipients and those close to eligibility.

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