Fixing Social Security's 8-Year Cliff Rely On Trust And Stephen Goss

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Fixing Social Security's 8-Year Cliff Rely On Trust And Stephen Goss

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Fixing Social Security's 8-Year Cliff Rely On Trust And Stephen Goss

//politics-government.news-articles.net/content/ .. 8-year-cliff-rely-on-trust-and-stephen-goss.html

Published in Politics and Government on Friday, January 3rd 2025 at 13:20 GMT by Forbes

🞛 This publication is a summary or evaluation of another publication
🞛 This publication contains editorial commentary or bias from the source
🞛 This publication contains potentially derogatory content such as foul language or violent themes

The article by Teresa Ghilarducci on Forbes discusses the impending financial challenges facing Social Security, which is projected to face a shortfall by 2033 if no action is taken. The piece highlights the work of Stephen Goss, the Chief Actuary of the Social Security Administration, who has been instrumental in providing accurate financial projections and potential solutions to extend the program's solvency. Ghilarducci emphasizes the need for trust in Goss's expertise, given his long-standing role and the accuracy of his past predictions. She suggests that rather than drastic cuts or privatization, small, incremental changes could be implemented to fix the system, such as increasing the payroll tax cap or adjusting benefits for high earners. The article calls for a bipartisan approach to reform, leveraging Goss's insights to ensure Social Security remains viable for future generations, avoiding the "8-year cliff" where benefits might be reduced.

Read the Full Forbes Article at:
[ https://www.forbes.com/sites/teresaghilarducci/2025/01/03/fixing-social-securitys-8-year-cliff-rely-on-trust-and-stephen-goss/ ]