"Social Security is at a crossroads," recognizes Micheal J. Astrue, Commissioner of Social Security. The 2008 Annual Report to Congress is a key example of that. Without change, Social Security is sure to run out of money.
- Tax revenues will fall below program costs by 2017
- Trust funds will become exhausted by 2041
- Over a 75 year period, the Trust Funds would need to require an additional $4.3 trillion to pay all scheduled benefits
Astrue is continuing to work with President Bush and Congress to develop policy solutions.