The Crisis in Social Security Demands Action by Congress
Conwell Hooper of the American Senior Alliance argues for action now to shore up Social Security’s finances. Currently, over 62 million Americans received Social Security benefits. Hooper calls it “frightening” when referring to the Trustees Report released last month that noted for the first time in 36 years, costs will exceed income, forcing the Social Security program to dip into reserves to cover benefits. In addition, by 2034 Social Security will only be able to pay benefits consistent with income, meaning benefit cuts for all across the board. Hooper singles out U.S. Senator Bob Corker of Tennessee as one who has consistently pushed to reform Social Security, Medicare and Medicaid to ensure they are financially solvent in the long term. Read more… The Association of Mature American Citizens (AMAC) has developed a bipartisan compromise bill, titled “The Social Security Guarantee Act”, to extend the longevity of the program by 75 years. One of its components is Social Security PLUS, a new, yet voluntary early retirement plan that would allow all earners to have more income available at retirement. Learn more about AMAC’s Social Security Guarantee here…