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The chief actuary discussed the report on capitol hill before a house ways and means subcommittee. This is just under an hour. Mr. Goss good morning. He and i have decided were going to start the hearing early. And since yall are here, or since youre here, is that all right with you . Mr. Goss just great. We all know Social Security provides important retirement and disability benefits that millions of americans rely on, hear again today conquer Congress Needs to act so that we can be sure those benefits will be there for our children as our grandchildren just like they are for seniors and ind...

Later, live sunday starting at noon eastern on American History tv on cspan 3. Social security chief actuary steven goss recently testified on the current status of Social Security trust funds. He also discussed potential solutions for making sure the funds stay solvent. This house ways and means subcommittee hearing just under an hour. Good morning. We have decided that were going to start the hearing early. Since you all are here or since youre here, is that all right with you . Sounds just great. We all know Social Security provides important retirement and disability benefits that millions...

The Board Benefit cuts if congress doesnt act. Once they are kpaused Social Security will only be able to pay 77 of promised benefits. Thats wrong and unacceptable. They also tell us today it would take 12. 5 trillion to make it valueva solvant. The number gets bigger every year. In 2011 when i first held a hearing on a Trustees Report it was 6. 5 trillion. Fixing it will require tough choices, choices that will effect the lives of millions of americans. I can tell you they arent easy choices. We all may have differing views on how to solve it. But not talking about the problem wont make it go...

Ahead taking into account that uncertainty about the economy will dictate future policy decisions. Janet yellen we are not behind the curve, my judgment is that we are in a good path to reaching our objectives but the outlook is uncertain. We recognize that there are many sources of uncertainty affecting the outlook and we will have to adjust our thinking as things youve all. As things evolve. Charlie welcome. What is the significance of this . The fed is a knowledge and the fed the the economy is doing better, unemployment down, a nineyear low, inflation is starting to rise, Something Else th...

Ahead taking into account that uncertainty about the economy will dictate future policy decisions. Janet yellen we are not behind the curve, my judgment is that we are in a good path to reaching our objectives but the outlook is uncertain. We recognize that there are many sources of uncertainty affecting the outlook and we will have to adjust our thinking as things youve all. As things evolve. Charlie welcome. What is the significance of this . The fed is a knowledge and the fed the the economy is doing better, unemployment down, a nineyear low, inflation is starting to rise, Something Else th...