Security | Common News Update

Mulvaney: Trump wants to protect entitlementsIf Congress doesn't act soon, tens of millions of Americans will only receive about three-quarters of their Social Security benefits when they retire in the future. In an annual report released Thursday, trustees of the government's two largest entitlement programs -- Social Security and Medicare -- urged lawmakers to act quickly to assure Americansthey'll be able to get their full retirement benefits. The trustees projected that the Social Security trust fund will be tapped out by 2034. While that projection is unchanged fromlast year's annual report card, the trustees warned of persistent long-term challenges ahead if fixes aren't made to pay for the program. "The trajectory is still alarming," said Tom Price, secretary of the Health and Hum...

Advocates for increasing Social Security's benefits are counting on today's release of the annual trustees report to provide some fodder for their cause.While the yearly analysis confirmed the program's long-term funding woes, proponents for expansion say it also proves the government can afford it."The numbers make it clear that the question about whether to expand or cut Social Security is a question of values, not affordability," said Nancy Altman, president of Social Security Works and chair of the Strengthen Social Security Coalition.The report, released this afternoon, echoed last year's projected revenue shortfalls starting in the mid-2020s and leading to a depleted surplus by 2035. At that point, unless Congress has taken steps to shore it up, the program will be able to fund about...