'Do you know that Social Security is going to be insolvent in 2025?'

When Rep. Byron Donalds was interviewed by Joy Reid recently, he mentioned that Social Security could face solvency problems as early as 2025.

The MSNBC host wasn’t having it. She talked over the Florida Republican. Here’s the exchange:

.@ByronDonalds: "Do you know that Social Security is going to be insolvent in 2025?"@JoyAnnReid: "It is not going to be! That is not true!" This is what DENIAL looks like.pic.twitter.com/licwHZ1Mgp

— Young Americans for Liberty (@YALiberty) January 11, 2023

On Wednesday, Forbes reported (emphasis added), “As America’s population ages, more and more people will depend on retirement income to get by. In 1950, about 14% of the population was over age 65. By 2050, that is projected to exceed 40%. Today, about 56 million Americans are over 65; that number is expected to increase to more than 78 million by 2035…

About one-fourth of seniors rely on this public benefit for most, if not all, of their income, according to the Social Security Administration. The average monthly benefit in 2022 was around $1,600–not much to live on! Benefits may fall in the future if the program doesn’t have enough money to pay the full benefit amounts. Other federal government retirement related programs, such as the Pension Benefit Guaranty Corp., which backs up struggling private pension plans, is facing potential insolvency as early as 2025. Larger pension funds, such as the ones that cover public employees, are underperforming and longer life spans increase the likelihood that many Americans will 'outlive' their retirement savings and benefits.”

Read the entire column.