Could Social Security’s financial issues just disappear?
When it comes to Social Security’s future, are you an optimist, a pessimist or a realist? Whenever you read about Social Security’s looming “bankruptcy” or fears about it “going broke”, the subject of the annual Trustee’s Report usually comes up to substantiate whichever position you favor. Clearly most articles written today are usually quite pessimistic, but the fact is that the Trustees’ report makes its projections of the program’s financial future comparing three sets of criteria known as Low-Cost, High-Cost and Intermediate Cost economic assumptions. While a pessimist might focus on the high-cost assumptions that would portend a dismal future, a realist would choose the intermediate-cost path, which is the path the Trustees generally place the most focus on in the report. An optimist, however, could focus on the low-cost assumptions path and reach a conclusion that, if that path’s economic criteria are met, the program’s financial woes might simply disappear. Realistically, will that happen? Almost certainly not, as this Motley Fool article by Dan Caplinger opines. Click here to read more.
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