Thread by @kathleenromig

It’s #SocialSecurity Trustees Report day!

The program’s financial outlook is about the same as last year—the projected reserve depletion date is 2034, 1 year earlier than last year.

Let's have a closer look at what that means and why it matters. 1/ ssa.gov/oact/TR/2023/t…

First of all, a year's worth of fluctuation in the reserve depletion date is not a cause for alarm--or celebration, if it goes the other way!

For over a decade, every Trustees' Report has estimated a reserve depletion date between 2033 and 2035. 2/

You may see alarmist headlines about Social Security, but don't be fooled.

Social Security can pay full benefits for at least another decade, giving policymakers time to carefully craft a funding package that protects the program's critical benefits. 3/ cbpp.org/blog/social-se…

To ensure Social Security keeps its promises to retirees, those who become disabled, and survivors, we will have to raise more revenue, especially from the wealthy. This is a small price to pay to secure this critical program. 4/

For more on the Medicare Trustees Report, also released today, follow my colleague @PaulNVandeWater. I’ll also follow up with more details for those who want to dig in. 5/

https://twitter.com/PaulNVandeWater/status/1641834292941561858

And join me online Tuesday 4/4 at 2 for a Trustees Report event sponsored by the @BudgetHawks. 6/6

events.r20.constantcontact.com/register/event…