Drop in immigration and Trump’s tax cuts accelerate expected shortfall in Social Security
The Washington Post reports: Social Security’s trust fund is now due to run low on money beginning in 2032. And in announcing that new date Tuesday, the government acknowledged that the Trump administration’s immigration policies and tax cuts are expected to contribute to the insolvency. The trust fund that pays retiree and survivor benefits is expected to reach depletion by the fourth quarter of 2032, one quarter earlier than projected in last year’s annual report. Social Security’s trustees said notable…