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American Academy of Actuaries New Social Security Tool Is Deficient in Alerting the Public to Potential Cash Flow Issues
Ken Steiner, FSA Retired
[Opinion] Aug. 7, 2023 "[This post discusses] yet another feature of the tool that may also mislead the public about the effectiveness of these possible 'fixes.' This feature ignores the potential negative impact on system assets of overly deferring the revenue increases or benefit reductions necessary to restore system's actuarial balance. Thus, while certain changes may achieve actuarial balance ... these changes aren't expected to keep the OASDI Trust fund from running out of money during the entire 75-year projection period, and therefore, should not be considered as viable, much less as a 'fix.' " |
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