This US survey examines (a) The Trustees of the U.S. Social Security system currently estimate that the OASI trust fund will be exhausted in 2033, after which substantial benefit cuts are mandated without a change in the law. The response to the impending exhaustion of the OASI trust fund is likely to rely more on general government borrowing than on increases in social security taxes or reductions in social security benefits; (b) As in the most recent major change in Social Security finances (adopted in 1983), the most prudent way to address the impending exhaustion of the OASI trust fund would feature a balanced combination of payroll tax increases and reductions in the benefits received for any given retirement age
Keyword: benefits
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