May, 06 2024, 04:57pm EDT
The 2024 Trustees Report Shows that Social Security is Benefiting From a Strong Economy
The 2024 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds, released today, shows that our Social Security system remains fully affordable.
This year’s report announces that, thanks to a strong and growing economy, Social Security can pay all benefits and associated administrative costs in full until 2035, one year later than projected in last year’s report. After that, it can pay 83 percent percent of benefits, also an improvement over last year — even if Congress were to do the unimaginable, and take no action whatsoever.
Social Security has an accumulated surplus of $2.79 trillion. It is 90 percent funded for the next quarter century, 83 percent for the next half century, and 81 percent for the next three quarters of a century. At the end of the century, in 2100, Social Security is projected to cost just 6.1 percent of gross domestic product (“GDP”). The following is a statement on the report from Nancy Altman, President ofSocial Security Works:
“Today’s report shows that our Social Security system is benefiting from the Biden economy. Due to robust job growth, low unemployment, and rising wages, more people than ever are contributing to Social Security and earning its needed protections. As a result, Social Security can pay all promised benefits until 2035, one year longer than projected in last year’s report, and 83 percent of benefits thereafter, also an improvement over last year — even if Congress takes no action whatsoever.
That said, Congress should take action sooner rather than later to ensure that Social Security can pay full benefits for generations to come, along with expanding Social Security’s modest benefits. That will restore one of the most important benefits Social Security is intended to provide to the American people — a sense of security.
Congressional Democrats have introduced several plans that would do just that. These plans are paid for by requiring millionaires and billionaires to contribute more of their fair share. That is particularly appropriate since, according to Social Security’s chief actuary, rising inequality is the primary unanticipated reason that Social Security faces a funding shortfall in a decade. That inequality has cost Social Security $1.4 trillion over the last decade.
Proposals to protect and expand Social Security are bipartisan in the only way that really matters — they have strong support from Republican and independent voters, as well as Democrats. In contrast, 92 percent of voters oppose cutting benefits.
President Biden is listening to the American people. As today’s report shows, Biden’s economic policies are already strengthening Social Security — and he understands that more is needed. His most recent budget calls for protecting and expanding Social Security by requiring the wealthiest to contribute their fair share.
In contrast, Republicans want to cut benefits despite overwhelming opposition from the American people. The most recent budget of the Republican Study Committee, which consists of about three quarters of House Republicans, contains over $1.5 trillion in cuts to Social Security in just the next ten years. These cuts include raising the retirement age and deeply slashing middle-class benefits, radically transforming Social Security towards a flat, poverty-level pittance instead of an earned benefit.
It’s not just Congressional Republicans. Presumptive Republican nominee Donald Trump, despite his protestations to the contrary, also supports benefit cuts. He also favors slashing Social Security’s dedicated revenue. In addition, Trump plans to sharply restrict immigration. This would harm Social Security by reducing the number of workers paying in.
Ultimately, the question of whether to expand or cut Social Security’s modest benefits is a question of values and choice, not affordability. The United States is the wealthiest nation on Earth at the wealthiest moment in our history. We can use that wealth to protect and expand Social Security, or to provide yet more tax handouts to billionaires.
This report is a reminder that the next decade is a crucial one for Social Security’s future. Americans should vote accordingly this November.”
Social Security Works' mission is to: Protect and improve the economic security of disadvantaged and at-risk populations; Safeguard the economic security of those dependent, now or in the future, on Social Security; and Maintain Social Security as a vehicle of social justice.
LATEST NEWS
Rights Advocates Demand Probe Into Reports That Israel Uses WhatsApp to Target Palestinians
"The Israeli Lavender system, supported by artificial intelligence, identifies Palestinians by tracking their communications via WhatsApp or the groups they join," said a Palestinian digital rights group.
May 18, 2024
The Palestinian digital rights group Sada Social on Saturday called for an investigation into Israel's alleged use of WhatsApp user data to target Palestinians with its AI system, Lavender.
The group, which is affiliated with the Al Jazeera Media Institute and Access Now, accused Meta, which owns WhatsApp, of fueling "the 'Lavender' artificial intelligence system used by the Israeli military to kill Palestinian individuals within the Gaza enclave."
As Common Dreamsreported in April, the Israel Defense Forces has relied on AI systems including Lavender to target people Israel believes to be Hamas members.
At +972 Magazine, Israeli journalist Yuval Abraham wrote that a current commander of an elite Israeli intelligence unit pushed for the use of AI to choose targets in Gaza. The commander wrote in a guide book to create the system that "hundreds and thousands" of features can be used to select targets, "such as being in a WhatsApp group with a known militant, changing cell phone every few months, and changing addresses frequently."
Sada Social asserted that it had found the Lavender system uses WhatsApp data to select targets.
"The reports monitored by the Sada Social Center indicate that one of the inputs to the 'Lavender' system relies on data collected from WhatsApp groups containing names of Palestinians or activists who are wanted by 'Israel,'" said the group in a press release. "The Israeli Lavender system, supported by artificial intelligence, identifies Palestinians by tracking their communications via WhatsApp or the groups they join."
The mention of Israel's use of WhatsApp data in Abraham's reporting also caught the attention last month of Paul Biggar, founder of Tech for Palestine.
"There's a lot wrong with this—I'm in plenty of WhatsApp groups with strangers, neighbors, and in the carnage in Gaza you bet people are making groups to connect," wrote Biggar. "But the part I want to focus on is whether they get this information from Meta. Meta has been promoting WhatsApp as a 'private' social network, including 'end-to-end' encryption of messages."
"Providing this data as input for Lavender undermines their claim that WhatsApp is a private messaging app," he wrote. "It is beyond obscene and makes Meta complicit in Israel's killings of 'pre-crime' targets and their families, in violation of international humanitarian law and Meta's publicly stated commitment to human rights. No social network should be providing this sort of information about its users to countries engaging in 'pre-crime.'"
Others have pointed out that Israel may have acquired WhatsApp data through means other than a leak by Meta.
Journalist Marc Owen Jones said the question of "Meta's potential role in this is important," but noted that informants, captured devices, and spyware could be used by Israel to gain Palestinian users' WhatsApp data.
Bahraini activist Esra'a Al Shafei, founder of Majal.org, told the Middle East Monitor that the reports that WhatsApp user data has been used by the IDF's AI machine demonstrate why privacy advocates warn against the collection and storage of metadata, "particularly for apps like WhatsApp, which falsely advertise their product as fully private."
"Even though WhatsApp is end-to-end encrypted, and claims to not have any backdoors to any government, the metadata alone is sufficient to expose detailed information about users, especially if the user's phone number is attached to other Meta products and related activities," Al Shafei said. "This is why the IDF could plausibly utilize metadata to track and locate WhatsApp users."
While Meta and WhatsApp may not necessarily be collaborating with Israel, she said, "by the very act of collecting this information, they're making themselves vulnerable to abuse and intrusive external surveillance."
In turn, "by using WhatsApp, people are risking their lives," she added.
A WhatsApp spokesperson told Anadolu last month that "WhatsApp has no backdoors and we do not provide bulk information to any government," adding that "Meta has provided consistent transparency reports and those include the limited circumstances when WhatsApp information has been requested."
Al Shafei said Meta must "fully investigate" how WhatsApp's metadata may be used "to track, harm, or kill its users throughout Palestine."
"WhatsApp is used by billions of people and these users have a right to know what the dangers are in using the app," she said, "or what WhatsApp and Meta will do to proactively protect them from such misuse."
Keep ReadingShow Less
PFAS 'Ubiquitous' in Water, Atmosphere in Great Lakes Basin
"We need to take a broad approach to control sources that release PFAS into the atmosphere and into bodies of water," said one researcher, "since they eventually all end up in the lakes."
May 18, 2024
A first-of-its-kind study published this week shows that levels of toxic per- and polyfluoroalkyl substances, or PFAS, are now so ubiquitous in the environmental that they have begun building up in the Great Lakes Basin after entering it through rainwater and the air, contaminating 95% of the United States' fresh surface water supply.
Researchers at Indiana University, Bloomington and Environment and Climate Change Canada published the study Thursday, revealing that "background levels" of PFAS, also called "forever chemicals," are so high that atmospheric counts were consistent throughout the basin.
"The PFAS in rain could be carried from local sources, or have traveled long distances from other regions. Regardless, it is a major source of pollution that contributes to the lakes' levels," reported The Guardian on Saturday.
The levels of PFAS in precipitation did not correlate with whether or not an area in the Great Lakes Basin was heavily industrialized, lead author Chunjie Xia, a postdoctoral associate at Indiana University, told The Hill.
"The levels in precipitation don't depend on the population," said Xia. "They are similar in Chicago, which is heavily populated, and at Eagle Harbor, Michigan, where there's maybe 500 people living in a 25-kilometer radius."
"That tells us the levels are ubiquitous," he said. "This is the first time we've seen that. We've never seen that for other pollutants before."
Within the basin, however, levels of PFAS were higher near urban areas.
Twenty percent of the world's freshwater is held in the Great Lakes Basin, while 10% of the U.S. population and 35% of Canadians live in the region.
In 2023, Duke University and the Environmental Working Group analyzed fish samples collected from the Environmental Protection Agency's monitoring program for the Great Lakes, and found that eating just one locally caught freshwater fish could be the equivalent of drinking PFAS-contaminated water for a month.
Forever chemicals have earned their nickname because they do not naturally break down and can continuously remain in and move through the environment. PFAS are used by dozens of industries to make products heat-, water-, and stain-resistant.
European lawmakers have proposed a ban that could go into effect as early as 2026, but Reutersreported Wednesday that the law could include exemptions for certain industries.
Last month, the Biden administration finalized a rule setting limits on PFAS in drinking water.
"We need to take a broad approach to control sources that release PFAS into the atmosphere and into bodies of water," Marta Venier, a co-author of the new study, toldThe Guardian, "since they eventually all end up in the lakes."
Keep ReadingShow Less
In 'Abandonment of Public Education,' Louisiana to Allow Tax Dollars to Pay for Private Schools
"We must build and maintain a public education system that serves all children," said one Democratic lawmaker.
May 18, 2024
After an aggressive push by Republican Gov. Jeff Landry, the Louisiana Senate advanced a bill this week that would allow public funds to be used for private school tuition—sending what one Democrat called an "abandonment" of the state's public schools to the state House, where it is expected to pass.
The state Senate approved the Louisiana Giving All True Opportunity to Rise (LA GATOR) Scholarship Program in a vote of 25-15 on Thursday, with just four Republicans joining the Democratic Party in opposing the bill.
The program would allow the state Board of Elementary and Secondary Education to create "education savings accounts" (ESAs), which would give families state tax dollars to pay for private school tuition, uniforms, and other expenses.
The grants would first be available to low-income families and special education students, but in the program's third year the ESAs are set to be available to all Louisiana families.
The legislation was briefly shelved this week over concerns about its cost, but Landry, backed by right-wing groups and donors, used television ads to push his party to support the ESAs.
Landry went as far as suggesting lawmakers could revise the state constitution to end a restriction mandating that certain public funds are set aside for K-12 public schools. He called on the state Senate to hold a special convention to do so, in order to unlock funding for the $520 million yearly cost of the LA GATOR program.
Moments before the Senate voted on Thursday, state Sen. Royce Duplessis (D-5) said the bill was "nothing short of an abandonment of public education."
"We as a state are making the decision and taking the step to say that it's too hard, it's too complex" to fund public schools, said Duplessis.
Landry told the Louisiana Illuminator that the success of the bill was "a big win for the kids of Louisiana," but local school board members, teachers, and superintendents lobbied Republicans ahead of the vote to protect funding for public schools, where a majority of students in the state are educated.
"These universal voucher bills are a step in the wrong direction," Larry Carter, president of the Louisiana Federation of Teachers, toldPublic News Service earlier this month. "We've seen in other states around the country, like Arizona and Ohio, where these bills have been passed, [schools are] now facing a budget crisis, and we're hoping that we cannot go down that same road."
"If we're cutting that funding stream, Louisiana students will have fewer nurses and counselors, less options for after school programs, and certainly limited access to field trips and AP courses that help prepare them for their next step in life," he added.
Louisiana-based journalist Dayne Sherman said the LA Gator program will provide a lesson in "how to starve your local Louisiana public school, Clownfish-style."
Keep ReadingShow Less
Most Popular