The Social Security Administration's plans to increase recipients' benefits by 5.9% next year could lead the Social Security Trust fund to run out of money by 2032, one year ahead of previous estimates, according to Maya MacGuineas, president of the bipartisan Committee for a Responsible Federal Budget.
The federal government collected a record $3,586,456,000,000 in total taxes through first eleven months of fiscal 2021 (September through August), according to the Monthly Treasury Statement.
Inflation continued to surge in August, but appeared to settle at nearly the fastest pace in almost 13 years as the economy continues to emerge from the pandemic, the feds said Tuesday.