Social Security Insolvency Will Quicken by Deporting Illegals

 With Americans not having kids anymore and the SS Trust Fund filled with US Government paper promises, SS is in trouble.  For 38 yrs I worked as a financial consultant and we could all see the upside-down pyramid coming for all that time.  Turns out deporting illegals who pay into the system but never collect will quicken the collapse of the SS system.  So we might save some dollars here but lose them all there.

What’s a politician to do? 🤔

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A new report warns that a side effect of the Trump administration's push to crack down on illegal immigration could further weaken Social Security's finances and speed up its insolvency.

Social Security's main trust funds, when considered together, are on pace to be depleted in 2034, according to a recent analysis by Social Security's trustees. Once the trust funds are tapped out, an automatic benefit cut of 19% would occur once the program's ability to augment payroll tax collections with trust funds is no longer viable.

The Penn-Wharton Budget Model (PWBM) estimates that unauthorized immigrants paid about $24 billion in Social Security taxes in 2024 — though they're unable to receive benefits unless they obtain legal resident status.

PWBM analyzed the impact of three deportation scenarios, taking into account levels of deportations and timelines for historical baseline levels of immigration and deportations to return, or not, and found that each would move up the depletion date for Social Security's trust fund by about half a year.

https://www.foxbusiness.com/economy/social-security-insolvency-could-speed-up-illegal-immigration-crackdown?dicbo=v2-poFYPO5