John Bullis: Officials warned about 2 depleted trust funds

The board of trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds sent identical letters May 31 to the president of the Senate, Hon. Joe Biden Jr. and to the speaker of the House of Representatives, Hon. John A. Boehner. The law requires the board of trustees to submit a report to each chamber of Congress when it determines that the balance ratios of a trust fund for any calendar year may become less than 20 percent.