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Along with changes to the application of the COLA there is discussion about changing the way and amount of income taxes applied to SS benefits.
It’s quite complex, but here is a link to some alternatives from the Committee for a Responsible Federal Budget. https://www.crfb.org/papers/new-approaches-social-security-benefit-taxation
I am going on a reading strike about Social Security. If the title says Social Security I do not read.
The article lost my attention when it said these concepts would only reduce the 75 year deficit/ loss by 10% to 20%. It’s past time to get real, and these proposals don’t cut it.
Amazing article with some sane approaches, thank you for sharing
Some observers think Congress will punt on the whole thing and borrow money to put into the trust fund.
They would have to change the law because general revenue can’t be used and that is something we need to avoid. It was designed to be self funding and should stay that way.