When do you think social security will be full depleted?

Question

When do you think social security will be full depleted?

Answer 1

Never.

Answer 2

Never, since people will always be paying into the system.

But around 2017 or so, Social Security will have to start cashing in the US treasury bonds it holds, to continue paying benefits at current rates.

And around 2070, all those Treasury bonds will have been cashed in.

3.5 trillion dollars of the US national debt, is treasury bonds issed to the SS, for the excess SS revenue generated so far.

The excess revenue was invested in treasury bonds instead of the stock market.

But of course there are simple ways to push the date back, that those bonds will have to be cashed.

Increase the wage level that has to pay SS tax's from the current level.

Increase the retirement age

When SS started, you had to be 62 years old to collect,

But the average life span in the US, was only around 53 years of age.

So very dew people actually collected.

Now the average life span is 78years old , but the SS retirement age is just 65 years old.

If the SS retirement age, kept pace with the rising average life span, then the SS retirement age today would be around 85 years old.

Answer 3

Raise the cap on income and it won't be.

A simple solution with no great negatives.

The more you earn, the longer you pay.

Right now it ends at a rather low income level.

and people making over that stop paying.

So the more you make, the less proportionately you pay.