Question of the Day

In 1977, Congress and President Carter passed a law that he said "will guarantee that from 1980 to the year 2030, the Social Security funds will be sound." For how long after 1980 did the Social Security trust fund remain stable?

Correct Answer

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The Social Security trust fund did not remain stable for even one year and declined in real value until 1983, at which point, Congress and President Reagan increased taxes, raised the retirement age, and made other changes to keep the program solvent.

DocumentationAccuracy of SS Projections