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The Biggest Problem With Social Security Isn’t Shrinking Reserves – It’s This
Social Security, the program designed to provide a financial safety net for low-income workers, the disabled, and family members of deceased workers, needs to change. Currently, the Social Security Trust Fund is on pace to burn through its remaining reserves by 2033. As baby boomers retire in droves and fewer young workers take their places in the workforce, the Trust Fund simply isn’t taking in enough revenue to maintain full retirement benefits. If nothing is done, the SSA will have to reduce benefits to roughly 77% of what they are now, and payments could continue at this reduced rate for another five-plus decades. This is a major concern…Read More
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