Discover and read the best of Twitter Threads about #socialsecurity

Most recents (24)

🚨NEW ANALYSIS🚨 The latest #SocialSecurity projections show that the program is only 13 years from insolvency and faces large & rising imbalances. Though finances have improved slightly, they remain perilous, and time is running out to save the program.

crfb.org/papers/analysi….
1️⃣ #SocialSecurity is only 𝟭𝟯 𝘆𝗲𝗮𝗿𝘀 from insolvency.

The theoretical combined trust funds comprising #SocialSecurity (OASI+SSDI) will exhaust their reserves by 2035, when today's 54-year-olds reach full retirement age and today's youngest retirees turn 75. ⤵️
2️⃣ #SocialSecurity faces large and rising imbalances.

The Trustees project the program will run cash deficits of nearly $2.5 trillion over the next decade – the equivalent of 2.1% taxable payroll or 0.8% of GDP. 75-year actuarial imbalance totals 3.4% of payroll or 1.2% of GDP.
Read 7 tweets
🚨NEW🚨 Today's trustees reports show that the #SocialSecurity and #Medicare Hospital Insurance (HI) #trustfunds are rapidly approaching insolvency; these funding imbalances will require #TrustFundSolutions to prevent broad benefit cuts.

More: crfb.org/blogs/trustees…. ImageImage
➡️OASI depletion will occur by 2034, while SSDI will not deplete within the projection window.

On a theoretical combined basis, assuming revenue is allocated between the trust funds in the years between OASI and SSDI insolvency, #SocialSecurity will become insolvent by 2035. ⤵️ Image
➡️Upon insolvency, all beneficiaries will face a 20% across-the-board benefit cut, which will grow to 26% by 2096. The Trustees estimate a 75-year actuarial shortfall of 3.42% of taxable payroll for #SocialSecurity – lower than 2021's estimate, but higher than any prior year.
Read 4 tweets
🚨The #SocialSecurity and #Medicare Trustees released their annual reports on the state of the trust funds today, finding that #Medicare HI will be insolvent by 2028 and theoretically combined #SocialSecurity by 2035.

The following is a statement from @MayaMacGuineas:
"#SocialSecurity is only 13 years from insolvency and #Medicare is only 6 years. Policymakers need to get their heads out of the sand and stop pretending these vital programs’ funding issues will fix themselves." crfb.org/press-releases….
"Today’s youngest retirees will be 68 years old when #Medicare runs out of reserves and 75 years old when #SocialSecurity becomes insolvent. Workers under the age of 55 will retire into an insolvent system."
Read 10 tweets
The @WaysMeansCmte is holding a hearing on #SocialSecurity this afternoon titled "The Fierce Urgency of Now – Social Security 2100: A Sacred Trust," at which they'll discuss a new proposal by Chairman Larson. I have some thoughts on it... (🧵)
To start, it's really good @RepJohnLarson is holding a hearing to discuss this important problem. Social Security is now spending more on benefits than it collects in payroll tax revenue, and by 2034, the previously accumulated surpluses that allow it to do this will run out.
At that point, SS can only spend what it collects in dedicated revenue - meaning benefits across the board will be cut by about 22%. Congress must act soon if it wants to preserve the program's current structure in a way that's fair to both younger workers & older retirees.
Read 17 tweets
"European Solidarity: Perspectives from the Southern Member States" is about to start! If you haven't already, join us and @iprinova on #Zoom to discover the Southern views on #COVID19 and #EuropeanSolidarity

➡️ tepsa.eu/european-solid…

/THREAD 🧵
We will be highlighting our debate: it takes place in the framework of TEPSA's new book "Solidarity in Action and the Future of Europe", edited by @MichaelKaeding (@unidue), Johannes Pollak (@WebsterVienna), and @_PaulSchmidt (@oegfe), who is moderating this event

/2
"Different countries, depending on their history and culture, have different viewpoints on #solidarity [...] you will find in this book 41 contributions from 41 experts from 41 European countries"

- @_PaulSchmidt explains the rationale of exploring "Views from the Capitals"

/3
Read 26 tweets
🧵The Hispanic Federation @HispanicFed along with other organizations from the US and Puerto Rico called on the US Department of Justice and the Biden-Harris administration to stop denying Puerto Rico residents Supplemental Security Income (#SSI) benefits. (1/5)
@Pwr4PuertoRico
According to #SocialSecurity data in Puerto Rico, there are 387,570 beneficiaries who do not receive the SSI portion. (2/5)
@hispanicfedPR
Earlier district and circuit court rulings found that excluding Puerto Ricans and residents of other territories from accessing these benefits is a violation of the due process clause of the Fifth Amendment of the US Constitution. (3/5)
@casapuebloorg
Read 5 tweets
For some reason, people miss that Social Security and Medicare are not entitlements. They are mandatory insurance, with the Federal government as the fiduciary is responsible for administering it. Americans paid into it their entire working lives. #WakeUp
If Americans were given an option to privately fund their retirement and medical care at age 65, the alternatives would have been substantially better resulting in a much larger return on investment and much better medical care. But the promise was that the Federal Government...
in exchange for eliminating the choice, would be a fiduciary that would guarantee the money was safe for all that paid into the system. There is no world that it is ok for the federal government to treat this as an entitlement. If anyone is getting an entitlement it is the...
Read 5 tweets
I called Centrelink yesterday to claim the disaster payment for lost work due to the 8 day lockdown in Qld. Apparently my account is locked. My AAT appeal is on 27.08 Friday week. I am busy preparing my brief of evidence for this. This is nasty. @Centrelink #auspol
Apparently, even as someone no longer in receipt of JobSeeker, they are now refusing me disaster cover for loss of work. If this doesn’t send me the signal they’d like to see me homeless and starving and die I don’t know what does. What “right to #SocialSecurity? #auspol
I am preparing now to visit my local @Centrelink office and apply for three things. 1. Reinstatement of JobSeeker, 2. Low Income Health Care Card, 3. Disaster Payment for loss of work in lockdown as someone not on JobSeeker - even as Indefinitely should still be. #auspol #LNPfail
Read 18 tweets
For the second time in recent years, my monthly #SocialSecurity benefit has gone DOWN because the premium for #Medicare has gone UP more than the #COLA adjustment to the cash benefit. SS isn’t an “entitlement”, it’s insurance into which I paid a fortune. Any insurance policy
which doesn’t adjust for inflation in all of its elements (including healthcare inflation, which has ALWAYS run ahead of ordinary inflation), is poorly designed and needs fixing.

#UniversalHealthcare would literally solve the problems of funding for #MediCare overnight.
#Congress, please strengthen and expand #ObamaCare in such a way the people who are on fixed income do not see their #COLA increases entirely eaten up by #Medicare expenses!
Controlling runaway pharmaceutical costs would be a great place to start!
Read 4 tweets
The @SenateFinance Cmte is holding a hearing this AM on @SocialSecurity's "customer service" during the pandemic.

This may sound boring, but here's the subtext: SSI applications & awards are at *historic lows* -- and Trump appointees are still running SSA.

So imma live-tweet...
@SenateFinance @SocialSecurity Up first is Grace Kim, deputy commissioner for operations at @SocialSecurity.

She's trying to paint a rosy picture, saying "reaching vulnerable communities is our priority."

The data say otherwise.
@SenateFinance @SocialSecurity Up next is Kascadare Causeya, Program Manager at Central City Concern in Portland, OR.

He's speaking powerfully about major barriers to access.

Names lack of access to technology as a huge gap, since so much of what SSA has emphasized during the pandemic has been online.
Read 62 tweets
Looking for hot takes on Biden's #AmericanFamiliesPlan?

@TCFdotorg's got you covered with this round-up of reactions from me, @pelhamprog @JulieKashen @drtaylor09 & more 👇

tcf.org/content/about-…
@TCFdotorg @pelhamprog @JulieKashen @drtaylor09 tl;dr on my take:

Together with the #AmericanRescuePlan and the #AmericanJobsPlan, the #AmericanFamiliesPlan represents an historic commitment to addressing America’s shameful and unjust levels of poverty and inequality.

2/
@TCFdotorg @pelhamprog @JulieKashen @drtaylor09 On the income security front, there's lots to be excited about in the #AmericanFamiliesPlan -- including:

* making the EITC expansion for "childless" workers permanent
* permanent full refundability of the Child Tax Credit
* historic expansions of school meals, and more.

3/
Read 7 tweets
BREAKING: A coalition of House & Senate Democrats—led by @SenSherrodBrown @JamaalBowmanNY @SenWarren @SenSanders w/@RonWyden—have teamed up to call on @POTUS to include long-overdue updates to Supplemental Security Income (SSI) in the #AmericanFamilyPlan 👇 ImageImageImage
@SenSherrodBrown @JamaalBowmanNY @SenWarren @SenSanders @RonWyden @POTUS The letter calls on @POTUS to #DemolishDisabledPoverty by including his promises on SSI in the next recovery package:

1) increase SSI’s sub-poverty-level benefits to at least 100% of the federal poverty level

2) raise SSI’s asset limit, which has been stuck at $2,000 since 1989
Read 8 tweets
@AmerIndependent @RepNancyMace
1. For years I’ve had to go thru a #MetalDetector every time I’ve entered a #FedBldg. Apparently there is a law that prohibits Americans from bringing guns into a #FedBldg. Doesn’t the #US Capitol qualify as a #FedBldg?
law.cornell.edu/uscode/text/18…
@AmerIndependent @RepNancyMace 2. It’s my understanding that this law was put in place to protect #FedEmployees. I’ve been screened numerous times when I’ve been called for #JuryDuty or when I’ve had to go to the local #SocialSecurity office. One time I had a 4 inch nail scissors in my pocketbook when I went..
@AmerIndependent @RepNancyMace 3. to my local @SocialSecurity office. I wasn’t allowed to take it past security. I had to leave it with #Security until I finished my business in the bldg. I’ve had to go thru #MetalDetectors @MACourts. Americans have to go thru this process for the #CommonGood & what is good
Read 6 tweets
@FrankBruni 1. These people are unbelievable & they’re #InCharge? Either they don’t know our laws or they think that they’re #AboveTheLaw! Americans can’t enter a #FedBldg w/o going thru a #MetalDetector! I’ve been screened numerous times thru the yrs. @mtgreene:
law.cornell.edu/uscode/text/18…
@FrankBruni @mtgreene 2. Once I had a 4 inch nail scissors in my pocketbook when I went to my local #SocialSecurity office. I wasn’t allowed to take it past security. I had to leave it with #Security until I finished my business in the building. I’ve also had to go thru a #MetalDetector when....
@FrankBruni @mtgreene 3. I’ve gone into a #StateCourt to serve on a jury. I’ve done this numerous times as well! Now #GOPReps are having #Tantrums about having to go thru the same process we’ve all been doing for ages! What a #DoubleStandard!
Read 7 tweets
#DataPrivacyDay
Today on #DataPrivacyDay, @SFLCin is bringing you some tips and quick fixes to help protect your privacy online.
#DataPrivacyDay2021 #PrivacyAware #privacy #cybersafety #dataprivacy
We as a generation use #SocialMedia almost obsessively. Most of us have accounts on social media websites like #Facebook, #Instagram & #Twitter.
#SocialSecurity #cybersecuritytips #PrivacyAware
We also keep hearing about various #Hacking, #Phishing attempts and in times like these it is important to understand the basics of social media privacy settings to secure yourself from such attempts.
#PrivacyAware
Read 14 tweets
.@Senator_Patrick your voicemail at Parliament House now states your are being inundated with calls against the cashless debit card - and only invites messages from people on other issues. I left you a message anyway.

Don’t support the card! #auspol #RaiseTheRate #PovertyKills
Fantastic!

If anyone else wants to call Senator @Senator_Patrick here is the number for Parliament House in Canberra. Just ask reception to be put through to his office. Ask him - his answering machine - NOT to support the card. #auspol #NoCDC
If Senator Patrick supports this he supports ineffective legislation that delivers only cruelty and sanctions - to people in #poverty.

These are not criminals, they are people deemed eligible for Social Security. #PovertyKills #ServicesnotSanctions #RaiseTheRate #auspol
Read 20 tweets
#Migraine is the most common & disabling brain disease, but @SocialSecurity still doesn't recognize it as potentially disabling, making it much harder for people to qualify for earned benefits.

🔵Bookmarkable Thread! Info about #SSDI & #disability for migraine.
Globally, #migraine is the #1 cause of disease-related #disability for people 10-24 & the 4th cause for people 25-49. Yet @SocialSecurity still doesn't treat it as a potentially disabling disease. ssa.gov/disability/pro… Image
Severe #migraine is profoundly disabling. The World Health Organization uses objective metrics to determine disease burden & ranks severe migraine in the highest category of disability alongside terminal-stage cancer.

Shame on @SocialSecurity. Image
Read 24 tweets
so hey, remember how the Trump admin was trying to strip hundreds of thousands of disabled people of #SocialSecurity, to “save” $2.6 billion in disability benefits, via a backdoor administrative action?
despite receiving an avalanche of comments from the disability community on the harm this cruelty-is-the-point proposed rule would do...

just days after losing the election...

Trump’s #SocialSecurity administration has now sent the cuts to OMB for approval as a final rule:
oh and did I mention they’re doing it in the middle of a pandemic
Read 6 tweets
Mary Jennings Hegar (MJ) is an American politician, United States Air Force veteran, and teacher. In 2017, she published the memoir “Shoot Like a Girl” which describes her service in Afghanistan.She also sued the U.S. Air Force to remove the Combat Exclusion Policy. #TXsen
“We must create a public option to make Medicare available for all those who want it. The best health care I’ve ever had was when I was on military-provided Tricare, similar to Medicare, and I believe that kind of high-quality care should be made available to all Americans.” 2/20
“I will oppose any effort to privatize, dismantle or undercut #Medicare, including raising the eligibility age.” ~ MJ Hegar, candidate for #TXsenate 3/20
Read 20 tweets
Before @JoeBiden and President Trump take the debate stage tonight in Cleveland, we’re counting down Trump’s worst betrayals of Ohio workers. #Debates2020
In 2016, Trump promised to fight for Ohio workers, but failed to lift a finger when GM abandoned Lordstown, taking 4,500 jobs with it.
Trump wasted trillions of workers’ tax dollars on a massive handout to Wall Street and his wealthy friends.
Read 15 tweets
BREAKING: @JoeBiden AGAIN dodged thousands of dollars in #Obamacare and #Medicare taxes in his 2019 tax returns. RT/follow along for more details, as I update my @WSJopinion piece in real time...
wsj.com/articles/how-t…
@JoeBiden and @DrBiden released their 2019 tax returns a little bit ago -- you can view them here. They show the Bidens again used a loophole that I profiled in my @WSJopinion piece... 2/ joebiden.com/wp-content/upl…
The issue involves two corporations, CelticCapri Corp. and Giacoppa Corp., through which @JoeBiden @DrBiden funneled their book/speech income. Funneling the income through these S-corps allowed them to avoid #Medicare and #Obamacare payroll taxes... 3/
Read 11 tweets
This is the #DemPartyPlatform for 2020.This section is called:Guaranteeing a Secure & Dignified Retirement
Only one party has a specific plan for ensuring seniors will not retire to poverty & uncertainty..the other can’t wait to cut &slash to pay for tax cuts for the wealthy 1/8 Image
#Democrats are proud to be the party that advocates retirement security for all. We are the party that created and strengthened Social Security, and defended public and private retirement plans that provide a decent monthly income. 2/9 #DemPartyPlatform #DignifiedRetirement Image
#Democrats are fighting to make sure that all workers have the ability to save at work for emergencies and for retirement. 3/9 #DemPartyPlatform #DignifiedRetirement Image
Read 9 tweets

Related hashtags

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3.00/month or $30.00/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!