Is Social Security Going Broke?
The Social Security system, the Federal government’s most popular program, was designed in the 1930s to ensure against old-age poverty, or as President Roosevelt said, “…the hazards and vicissitudes of life.” In its latest annual report, however, the Social Security Administration warns that one of the program’s key sources of revenue — sale of bonds from the “Trust Fund” to the Treasury — will run out of bonds in 2032. (Find the report summary here: https://www.ssa.gov/oact/TRSUM/). This has led to banner headlines about the system going broke and false analogies to business insolvency. Without the cash from bond sales, the currently projected payroll tax revenue will pay for only about 75% of scheduled benefits; tax revenue from outside the system will be required to maintain full benefits. This Osher course will focus on ways to shore up the system.
Instructor
Emeritus Professor Holahan served in the economics department at UWM for 40 years before retirement in 2012. His research and teaching are in the areas of economics and public policy. Since retirement he has published 130 guest editorials in state ... read more
Date: Wed, Oct 16, 2024
Delivery Method: In-person With Livestream
Time: 12:30-1:45pm CT
Location: UWM Hefter Conference Center, 3271 N. Lake Dr., Milwaukee, WI or view on Zoom
Instructor: William Holahan
Fee: $10
Program Number: FALL:334