Social Security: What Would Happen If the Trust Funds Ran Out?

Description:

This report explains what the Social Security trust funds are and how they work. It describes the historical operations of the trust funds and the Social Security trustees' projections of future operations. It explains what could happen if Congress allowed the trust funds to run out. It also analyzes two scenarios that assume Congress waits until the moment of insolvency to act, showing the magnitude of benefit cuts or tax increases needed and how such changes would affect beneficiaries.

Creator(s): Scott, Christine
Location(s): United States
Creation Date: October 21, 2013
Partner(s):
UNT Libraries Government Documents Department
Collection(s):
Congressional Research Service Reports
Usage:
Total Uses: 18
Past 30 days: 1
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Creator (Author):
Scott, Christine

Specialist in Social Policy

Publisher Info:
Place of Publication: Washington D.C.
Date(s):
  • Creation: October 21, 2013
Coverage:
Place
United States
Description:

This report explains what the Social Security trust funds are and how they work. It describes the historical operations of the trust funds and the Social Security trustees' projections of future operations. It explains what could happen if Congress allowed the trust funds to run out. It also analyzes two scenarios that assume Congress waits until the moment of insolvency to act, showing the magnitude of benefit cuts or tax increases needed and how such changes would affect beneficiaries.

Physical Description:

16 pages.

Language(s):
Subject(s):
Partner:
UNT Libraries Government Documents Department
Collection:
Congressional Research Service Reports
Identifier:
Resource Type: Report
Format: Text