There's a shortfall ahead… The Trust Fund is growing and is projected to peak at about $3.7 trillion in 2022. Then it heads down as boomer retirements accelerate and bonds are redeemed. Without reforms, the reserves would be exhausted in 2036. Why? Longer life spans and lower birthrates mean more beneficiaries as a percentage of the population, fewer workers are paying into the system because of high unemployment, and we haven't raised payroll taxes for the system since 1990. Social Security needs periodic adjustment to stay in actuarial balance. That's why it's required to have a 75-year outlook on its finances.
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