Well, the depletion of the OASI Trust Fund has begun, however, historically, not the first time, for example; Actual Trust Fund depletion from 1975 to 1983 1975....$36.9 billion 1976....$35.3 billion 1977....$32.4 billion 1978....$27.5 billion 1979....$24.6 billion 1980....$22.8 billion 1981....$21.4 billion...…. President Ronald Reagan and Congressional leaders in both parties appointed the National Commission on Social Security 1982....$22.0 billion 1983....$19.6 billion...….Social Security Reform Act of 1983 1984....$27.1 billion https://www.ssa.gov/OACT/STATS/table4a1.html …..and back then, SSA's low cost projections were way out of whack https://www.ssa.gov/OACT/tr/historical/1978TR.pdf For anyone's info, today, DEPLETION means shifting Trust Fund's securities to Public Debt securities, and although the process of SHIFTING does not increase the debt, Uncle Sam's "Net interest payments", (a mandatory government expenditure), WILL INCREASE!
Social Security Reform Act of 1983 It is hard to imagine how a similar "bipartisan" package could emerge from today's extreme political polarization. We may have to wait until OASI becomes an "urgent problem", thus, at least several more years.
Also, IMO, shifting Trust Fund's securities to Public Debt securities bear the resemblance to a pyramid scheme. Who's on top/bottom of said pyramid scheme? Well, I'm certainly at the bottom due to the fact SHIFTING will increase Uncle Sam's net interest payments, (a mandatory government expenditure), and the ones who have a net federal tax liability pays the bills. Who's on top? The ones who have contributed during a period when interest payments to the OASI Trust Fund were IOU'ed/increased the trust Fund's reserves.