[Tree] Social Security Administration updates jobs list for disability benefits
Version 0.32 (2024-06-26 16:59:51.750000)
updates: The SSA is updating its occupations database and eliminating 114 positions that have either been replaced by machines or relocated abroad, affecting disability benefit eligibility
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Version 0.31 (2024-06-25 02:54:02.014000)
updates: The SSA's decision to eliminate obsolete jobs from the list and the Washington Post investigation revealing the impact of the outdated list
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Version 0.3 (2024-06-24 10:54:02.413000)
updates: The Social Security Administration will update its list of jobs used to assess disability benefit applicants
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Version 0.29 (2024-06-15 20:54:22.540000)
updates: The Social Security Administration (SSA) Trustees announced that the retirement fund will be depleted in 2033. However, the fund will continue to provide retirement benefits at a level of 83% of the projected amount if Congress does nothing. It is suggested that the retirement age for benefits be raised and/or the level of income in which a person contributes to the fund be increased. About half of the people depend on their SSA benefits for more than 50% of their monthly income after retirement. It is critical to create a balance in savings for retirement and not become too dependent on government assistance. Seek an appointment with a CERTIFIED FINANCIAL PLANNER™ professional to analyze current resources for future expenses and consider saving more in employer's plan split between pre- and post-tax accounts.
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Version 0.28 (2024-05-28 03:52:18.846000)
updates: Projections indicate potential disaster for millions of Americans
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Version 0.27 (2024-05-10 00:57:37.553000)
updates: The projected depletion dates for Medicare and Social Security have been pushed back due to an improving economy. The go-broke date for Medicare's hospital insurance trust fund has been extended by five years to 2036, while Social Security's trust funds are now projected to be unable to pay full benefits beginning in 2035, one year later than previously estimated. The Social Security program will be able to pay all scheduled benefits in full until 2035, a year longer than previously expected, thanks to the strong performance of the U.S. economy, according to the Social Security Board of Trustees. Retired Americans warn that the future of the Social Security program depends on the next president elected in November. President Joe Biden aims to strengthen the funding for these benefit programs by calling for high-income taxpayers to pay their fair share. A recent analysis by James Hickman raises concerns about the accuracy of the annual trust fund report and the future of Social Security.
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Version 0.26 (2024-05-09 19:55:52.372000)
updates: Projected depletion dates pushed back due to improving economy
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Version 0.25 (2024-05-09 00:53:59.363000)
updates: Projected depletion dates pushed back due to improving economy
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Version 0.24 (2024-05-08 10:53:04.447000)
updates: The projected depletion dates for Medicare and Social Security have been pushed back due to an improving economy. The go-broke date for Medicare's hospital insurance trust fund has been extended by five years to 2036, while Social Security's trust funds are now projected to be unable to pay full benefits beginning in 2035, one year later than previously estimated. The Social Security program will be able to pay all scheduled benefits in full until 2035, a year longer than previously expected, thanks to the strong performance of the U.S. economy. The combined asset reserves of the program's two funds are projected to have enough revenue to pay all scheduled benefits and associated administrative costs until 2035, at which time there will be enough money to pay 83 percent of scheduled benefits. The depletion of the program's funds has been pushed off from 2034 to 2035. Congress' action is needed to reform the system and make it sustainable. Possible solutions include raising payroll taxes, lowering benefits, and increasing the retirement age. Retired Americans warn that the future of the Social Security program depends on the next president elected in November. The annual report on the financial status of the Social Security Trust Funds states that the program will be able to pay all scheduled benefits until 2035, a year later than previously expected. However, on the projected depletion day, the Social Security Administration will only be able to pay 83 percent of benefits unless Congress takes action to reform the program. Advocates for retirement safety warn that a potential second Trump presidential term might weaken the Social Security program. The Republican Study Committee proposes $1.5 trillion in Social Security cuts, including raising the retirement age to 69. Supporters of retirement safety believe that President Biden's economic policies are strengthening Social Security, while Republicans want to cut benefits. The future of Social Security depends on the values and choices made by the American people in the upcoming election. President Joe Biden aims to strengthen the funding for these benefit programs by calling for high-income taxpayers to pay their fair share. The changing outlook for Social Security and Medicare has become a key topic in the political landscape as President Biden and former President Donald Trump campaign for reelection. Biden has pledged to resist any Republican-led efforts to cut Medicare or Social Security benefits in order to address the funding shortfall. On the other hand, Trump has indicated openness to cuts in these programs. The improved financial health of Medicare and Social Security is seen as a positive sign for the Biden administration, which views it as an indication that their economic agenda is working. The administration intends to resist any proposed cuts to these programs and will continue to advocate for higher taxes on the wealthy to support them. Martin O'Malley, the commissioner of Social Security, has emphasized the importance of Congress providing additional funding for the trust fund to ensure its long-term solvency. However, a recent analysis by James Hickman (aka Simon Black), an international investor and founder of Sovereign Man, raises concerns about the accuracy of the annual trust fund report and the future of Social Security. Hickman argues that the report's key economic assumptions, such as the US fertility rate and productivity growth, are inaccurate and fail to account for future emergencies or crises. According to Hickman, Social Security's trust funds could run out of money in as little as nine years, leading to an immediate and substantial cut to retirees' benefits. He suggests that the government could overhaul the program, raise the retirement age, or allow private asset managers to generate higher returns as possible solutions. However, government officials, including Joe Biden, have been reluctant to address the issue. Despite the differing viewpoints, it is clear that the future of Social Security remains a topic of concern and debate. The program's projected depletion dates have been pushed back, thanks to an improving economy, but Congress will need to take action to ensure the long-term sustainability of the program. The upcoming election will play a significant role in shaping the future of Social Security, as the values and choices of the American people will determine the direction of the program. President Biden aims to strengthen the funding for Social Security and Medicare, while Republicans have proposed cuts to these programs. As the debate continues, retirees and individuals planning for retirement are encouraged to explore additional options, such as tax-advantaged retirement accounts and investments in real assets like gold and energy, to secure their financial future.
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Version 0.23 (2024-05-07 20:52:17.868000)
updates: Projected depletion dates pushed back due to improving economy
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Version 0.22 (2024-05-07 17:51:38.358000)
updates: Integrates analysis raising concerns about Social Security's future
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Version 0.21 (2024-05-07 15:52:24.708000)
updates: Retired Americans warn about the future of Social Security under Donald Trump
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Version 0.2 (2024-05-07 11:52:57.394000)
updates: Social Security program can pay full benefits until 2035
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Version 0.19 (2024-05-07 09:51:25.506000)
updates: The projected depletion dates for Medicare and Social Security have been pushed back due to an improving economy
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Version 0.18 (2024-05-06 23:52:10.183000)
updates: The financial health of Social Security and Medicare has improved due to a stronger-than-expected U.S. economy
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Version 0.18 (2024-05-06 23:52:10.183000)
updates: The financial health of Social Security and Medicare has improved due to a stronger-than-expected U.S. economy
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Version 0.17 (2024-05-06 21:52:41.335000)
updates: The financial health of Social Security and Medicare has improved due to a stronger-than-expected U.S. economy
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Version 0.16 (2024-05-06 20:52:24.544000)
updates: The financial health of Social Security and Medicare has improved due to a stronger-than-expected U.S. economy attracting more workers to the labor market.
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Version 0.15 (2024-05-06 20:51:36.645000)
updates: The financial health of Social Security and Medicare has improved due to a stronger-than-expected U.S. economy attracting more workers to the labor market. President Biden's administration sees the upgraded outlook as a sign that their economic agenda is working and will resist any proposed cuts. Martin O’Malley, the commissioner of Social Security, said that as long as Americans continue to work, the retirement program will be able to keep paying benefits while calling on Congress to provide more funding for the trust fund to ensure its long-term solvency.
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Version 0.14 (2024-05-01 15:51:50.248000)
updates: Sen. Bill Cassidy proposes a plan to save Social Security and increase investment returns
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Version 0.13 (2024-03-23 20:19:59.040000)
updates: Integration of Biden, Obama, and Pelosi's warning against Trump's ACA repeal efforts
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Version 0.12 (2024-03-23 11:17:22.805000)
updates: House GOP plan to cut Social Security benefits and ban abortions clashes with Biden's agenda
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Version 0.11 (2024-03-20 09:19:43.966000)
updates: Donald Trump's changing views on Social Security and Medicare
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Version 0.1 (2024-02-12 13:21:34.027000)
updates: Incorporated an opinion piece discussing the solvency of Social Security and potential solutions
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Version 0.09 (2024-02-11 08:51:53.056000)
updates: President Biden proposes a four-point plan to address the funding shortfall and extend the solvency of Social Security
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Version 0.08 (2024-01-23 05:56:57.124000)
updates: Integration of Dean Baker's opinion on using balanced economic growth to fix Social Security's funding shortfall
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Version 0.07 (2024-01-20 19:42:42.455000)
updates: Integration of new information about Biden's policy proposals and polling data
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Version 0.06 (2024-01-20 11:42:12.313000)
updates: Policy proposals to address Social Security and counter Trump's rise in 2024
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Version 0.05 (2024-01-07 09:15:25.203000)
updates: The story now includes information about the immigration problem affecting Social Security
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Version 0.04 (2023-12-21 13:01:26.662000)
updates: President Biden's warning about the future of Social Security
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Version 0.03 (2023-12-17 06:00:34.212000)
updates: Added information on the risk of insolvency and proposed solutions for long-term sustainability
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Version 0.02 (2023-12-09 23:50:24.259000)
updates: Integration of Robert Kiyosaki's perspective on millennials and Social Security
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Version 0.01 (2023-12-07 20:01:30.619000)
updates: Integration of the need for Social Security reform
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