Here’s How ChatGPT Would Solve Social Security Insolvency

Social Security is facing a severe funding shortfall. The program that millions of older Americans rely on may be forced to cut benefits within the next nine years if nothing is done. With time running out, a reporter from GOBankingRates asked ChatGPT how to fix the solvency issue.

The article, posted to Nasdaq.com, says the artificial intelligence platform offered ideas such as raising the payroll tax, removing the wage cap, increasing full retirement age, and adjusting the cost-of-living-adjustment (COLA) formula.  

The Seniors Trust believes the best solution to shore up Social Security solvency is the passage of the Social Security Expansion Act. When enacted, this landmark piece of legislation will ensure the long-term solvency of the Social Security program. In addition, it will give retirees an immediate benefits increase of about $200 a month, create a fair annual COLA, and increase minimum benefits.