Social Security Increases Accelerate Insolvency Timeline


dollar crisis worthy christian news(Worthy News) – The Social Security Administration’s plans to increase recipients’ benefits by 5.9% next year could lead the Social Security Trust fund to run out of money by 2032, one year ahead of previous estimates, according to Maya MacGuineas, president of the bipartisan Committee for a Responsible Federal Budget.

“The trajectory for Social Security was already an incredibly troubling one,” MacGuineas commented, according to a report published on NBC Montana. “When you have a big bump up like this that means that spending is going to be higher, not just this year, but all years going forward.”

The upcoming increases, which will start in 2022, are the largest since 2009, when retirees got a 5.8% increase. In other years over the last decade, low inflation has brought increases of less than 2% a year. The 2022 increase is also the largest cost-of-living adjustment (COLA) since 1982. [ Source: NewsMax (Read More…) ]

15
people are currently praying.

Worthy News reports from a biblical worldview with a commitment to accuracy, transparency, and editorial independence. Learn more about About Worthy News, our Editorial Standards, AI Use Policy, Ownership of Worthy News, News Tips and Corrections, and Worthy News Staff.

💡 Did you know? One of the best ways you can support Worthy News is by simply leaving a comment and sharing this article.

📢 Social media algorithms push content further when there’s more engagement — so every 👍 like, 💬 comment, and 🔄 share helps more people discover the truth. 🙌

Discuss this article in our forums

Latest Worthy News

U.S. Gun Deaths Decline, but Firearm Suicides Reach Record High
Idaho Abortion Ban Faces November Ballot Challenge as Four States Prepare for Major Votes
Saudi Arabia Strikes Houthi Leader’s Stronghold After Missile and Drone Barrage
Netanyahu Warns Iran of ‘Far More Powerful’ Israeli Response
U.S. Inflation Drops Sharply as Energy Prices Retreat, but Iran War Threatens Renewed Pressure
U.S. Strikes Iran for Third Consecutive Night, Renews Naval Blockade
Houthis Target Saudi Airport With Missiles and Drones As Tensions Escalate
Anglican Communion Backs Plan to Plant or Restore One Million Churches
Chinese Authorities Raid Early Rain Covenant Church Gathering, Detain 33 Christians
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.

Worthy Christian News