Social Security is facing growing financial pressure as the program now spends more on benefits than it collects in payroll taxes. For many years, Social Security brought in more money than it paid out. That extra money was saved in reserves and invested in U.S. Treasury bonds. Those reserves are now being used to help … Read more
Social Security recipients could face automatic benefit cuts within the next several years if lawmakers fail to address the program’s growing funding gap. The latest trustees’ projections show the retirement trust fund could be depleted by late 2032. That does not mean Social Security would disappear, but it does mean the program would no longer … Read more
The likelihood that federal civilian employees will receive a pay increase in 2027 appears to be diminishing. The House Appropriations Committee recently moved forward with the Financial Services and General Government (FSGG) appropriations bill for 2027 without including any provision for a salary increase for civilian federal workers. This follows the budget proposal from Trump … Read more