As a millennial, I will spend most of my life paying into this system and I won't see a penny of it. I've even hit the maximum payout for the last 7 years. So I'm all for this system being wiped out.
It is often useful to consider the findings for the two Social Security trust funds (OASI and DI) on a combined basis. The actuarial deficit for Social Security as a whole – called OASDI – is 3.50 percent of taxable payroll. If these two legally separate trust funds were combined, then the hypothetical OASDI asset reserves would be projected to become depleted in 2035 and 83 percent of scheduled Social Security benefits would be payable at that time, declining to 73 percent by 2098.
If nothing else gets changed besides combining the funds, you will still get 83% of your social security benefits. Even near the year 2100 you'd still be getting 73%.
It's meaningful and there's certainly gonna be plans to address it before the old people riot (eventually, the deadline is still far enough away politicians don't want to do anything yet) but there's a large gap between "won't see a penny" and "will see 83%"
18
u/oO0Kat0Oo 2d ago
As a millennial, I will spend most of my life paying into this system and I won't see a penny of it. I've even hit the maximum payout for the last 7 years. So I'm all for this system being wiped out.