Social Security needs steady growth in these 2 areas, comparable to historic trends, to stay solvent until at least 2034. (Photo: AP)

In June, the Social Security Trustees delivered their latest annual report, which indicated that the combined Social Security trust funds (OASD and DI) can be expected to run out of money in 2034, given moderate economic assumptions.

This was followed by scathing criticism from several pundits, most notably former Treasury U.S. Budget Director David Stockman, who called the Trustees’ report “funny money accounting.” Stockman said it’s more likely Social Security will be bankrupt in 10 years.

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