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This year, for the first time since the early 80's, the Social Security Trust Fund that pays retirement and survivors benefits fell into deficit and is paying out more than it receives in payroll taxes and taxes on Social Security benefits. In years in which there was an excess of Social Security taxes, the federal government used the surplus revenues for other purposes and then credited the Trust Fund with special non-marketable government bonds representing IOUs. But with the recession and prolonged economic recovery, the taxes that fund Social Security plunged. At the same time, enrollment is soaring as seniors who have lost their jobs turn to Social Security early. When the Trust Funds don't receive enough tax revenues, then the government must find the cash to redeem the IOUs to pay benefits. The only options Congress has is unsustainable levels of borrowing, tax increases, or cutting benefits..The Senior Citizens League continues to monitor the CBO's tax proposal. TSCL supports bills that would reduce the taxation of Social Security benefits while making Social Security payroll taxes more equitable through ensuring that all workers pay their fair share of taxes on all earnings..Senate Returns to Washington.Leadership Elections Kick Off "Lame Duck" Session.The letter was written in response to recent comments from Office of Management and Budget Director Mick Mulvaney, who told reporters last week that he has been "actively discussing potential executive or administrative solutions" to the prescription drug issue with President Trump. The group of Senators said, "We write to express our support for such efforts that could provide immediate relief to Americans.".Does TSCL receive government funding?.Many of you agree with Joe. About 74% of survey participants in TSCL's Senior Survey support applying the 12.4% Social Security payroll tax to all wages above the annual maximum which is 2,900 in 201This one fix alone is estimated to close roughly three - quarters of the Social Security financing gap. Let's ask our Members of Congress to get on board. Read more about sustainable solvency for Social Security in our latest Benefit Bulletin, "Social Security Legislation Would Provide 75 Years of Solvency To Social Security.".The "Medicare Notch" could affect a growing number of people if inflation remains unusually low while Medicare premium increases are relatively high. With no COLA in 2011 as the Social Security Trustees predict, people protected by the hold harmless provision in 2009 would continue to pay .40 per month, people who enrolled in 2010 would continue to pay 4 because now they would be protected by hold harmless, but new enrollees in 2011 would pay an estimated 0 per month..Good news is hard to come by these days. While a pandemic has hit our nation at least once before, none of us alive have ever experienced anything like this. In addition to the concern over catching the virus, the economy continues to take a huge hit, and no one knows how long this will last or how bad it's going to get.