Lawmakers Question Social Security Commissioner After Insolvency Warning
Federal trustees warned Social Security’s retirement trust fund could become insolvent by 2032; lawmakers questioned the agency’s commissioner but offered no plan to avert the shortfall.
One day after federal trustees warned Congress that Social Security’s retirement trust fund will go insolvent by 2032, a U.S. House subcommittee met to question Social Security Commissioner Frank Bisignano about the program’s future. Lawmakers discussed the looming shortfall but did not present a plan to prevent insolvency.