Social Security is the United States’ most important social insurance program, providing at least a half of annual household income to four in ten beneficiaries. The Old-Age and Survivor Insurance (OASI) Trust Fund, the source of the program’s retirement benefits, is forecast to run out of money in 2033, at which point beneficiaries’ Social Security retirement checks would shrink by about 17 percent, if nothing is done. The blueprint would make the program solvent with an approach intended to appeal to Republicans and Democrats alike through tax increases and benefit reductions, as well as program improvements and expanded legal immigration. This proposed blueprint would achieve solvency for the Social Security program over a 75-year period without introducing new revenue sources.
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