White House aides have discussed Social Security tax, eyeing shortfall

[progree]

10. Maybe: the 790,000 age 65+ deaths with Covid represent 1.5% of the age 65+ population

https://www.kff.org/coronavirus-covid-19/issue-brief/deaths-among-older-adults-due-to-covid-19-jumped-during-the-summer-of-2022-before-falling-somewhat-in-september/

As of the week ending October 1, 2022, the United States has lost nearly 1.1 million lives to COVID-19, of which about 790,000 are people ages 65 and older. People 65 and older account for 16% of the total US population but 75% of all COVID deaths to date.

US population: 334 million on 1/1/23 ( https://www.census.gov/newsroom/press-releases/2022/new-years-day-population.html )

Age 65+ population: 16% of 334 million is 53.4 million

790,000 deaths is 1.5% of 53.4 million.

So it's not huge, but it's not insigificant either.

Unfortunately, in February, the CBO forecasts the SS trust funds depletion date will be 2032 rather than the 2035, which is what the annual SS Trustees annual report forecast back in June.

The SS Trustees annual report in June 2022 forecast a depletion date of 2035. That was a one year increase from the 2034 date projected in the 2021 annual report.

https://www.msn.com/en-us/news/technology/social-security-will-become-insolvent-earlier-than-predicted-government-report-says/ar-AA17D96O