Well the Social Security provides benefits that millions of americans rely on forget as we will hear again today Congress Needs to act so we can be sure those benefits will be there for our children and grandchildren just like they are for seniors and individuals with disabilities today you hear from the chief actuary about the report and while it did have good news for the Disability Insurance program make no mistake Social Security faces serious challenges the Trustees Report tells us that this was a Security Trust fund will be exhausted in 2034 and at the point those across the of board the congress does not act once the funds are exhausted Social Security can pay 77 percent of benefits that is wrong and unacceptable. The trustees also tell us today it would take 12. 5 trillion to make Social Security solvent over the next 95 years that is not a little number in the number gets bigger every year and in 2011 when i first told of hearing on the Trustees Report it was 6. 5 trillion. Fi
The chief actuary discussed the report on capitol hill before a house ways and means subcommittee. This is just under an hour. Mr. Goss good morning. He and i have decided were going to start the hearing early. And since yall are here, or since youre here, is that all right with you . Mr. Goss just great. We all know Social Security provides important retirement and disability benefits that millions of americans rely on, hear again today conquer Congress Needs to act so that we can be sure those benefits will be there for our children as our grandchildren just like they are for seniors and individuals with disabilities today. From social hear security chief actuary about the findings in this years report and while the report has some good news for the Disability Insurance program, make no mistake Social Security faces serious challenges. The adjusters report tells us the Social Security trust fund will be exhausted in 2034. At that point, individuals face acrosstheboard benefit cuts if
Later, live sunday starting at noon eastern on American History tv on cspan 3. Social security chief actuary steven goss recently testified on the current status of Social Security trust funds. He also discussed potential solutions for making sure the funds stay solvent. This house ways and means subcommittee hearing just under an hour. Good morning. We have decided that were going to start the hearing early. Since you all are here or since youre here, is that all right with you . Sounds just great. We all know Social Security provides important retirement and disability benefits that millions of americans rely on. Yet, as we will hear again today, Congress Needs to act so we can be sure that those benefits will be there for our children and our grandchildren just like they are for seniors and individuals with disabilities today. Today well hear from Social Security chief actuary about the findings in this years report, and while a report adds some good news for the Disability Insuranc
Offeofficer of the academy. For those of you who were here who was here at the demystifying healthcare session this week . You will hear a little overlap. The academy itself is its 30th year of existence and 30 years ago wilbur cohen, bob myers, real legends in the area of a social insurance realized that we needed the academy for two purposes. One, to serve as a network of consisting social insurance scholars so they can support each other in advance the field. At that time 30 years ago we scoured the country and could come up with just about 100 people in this country who were legitimate social insurance scholars. Today, the academy has a thousand members so within 30 years weve had a nice growth. The second goal of the academy and this is the essence of what is today is a magnet to attract younger people and at that point the academy younger people were me. It was a fear that we boomers were not understand why we had programs like Social Security and medicare and workers comp. The f
Issues like labor trafficking and hhs and how they allowed kids to get into the hands of traffickers. Government oversight there. Next month we will be combatting looking at the ways to combat isis propaganda and locking at our government response to that for those who follow what we do, that will be something well be looking at next week. Certainly a topical issue and one that everybody is concerned about is how do you stop this isis propaganda from taking more and more of our impressionable young people and radicalizing them. Well look at the opiate abuse issue. And some specific issues we think the subcommittee can provide some additional insights on. We have done tough, significant, important oversight and will continue to. And again, i appreciate the witnesses coming here today and the fact that this process, not just the hearing today, but the investigation has improved some of your individual practices as it relates to the people that we represent. I want to thank senator mccask