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Will your Social Security be enough?
Unless Congress takes action soon, the financial problems in Social Security’s relatively near future will become worse. This glaring fact is highlighted in the recently released Social Security Trustees’ Report, which places the “actuarial deficit” at 2.83% over the next 75 years. In simple terms, that means that payroll tax withholding right now should be 2.83% higher than it is in order to sustain current benefits until 2091. Adjusting the payroll tax rate, and a number of other proposed fixes, are already contained in several House and Senate bills which seem to be languishing in a sea of Congressional partisanship. And in the end, that partisanship will hurt Social Security beneficiaries the most, as this nwi.com article by Motley Fool’s Sean Williams asserts.
AMAC has been at the forefront trying to strengthen Social Security by developing and proposing its Social Security Guarantee. AMAC has been discussing and continues to discuss this common-sense solution with Congressional Representatives in its efforts to protect America’s senior citizens who rely on Social Security. To review AMAC’s Social Security Guarantee, click here.
To read the Sean Williams article titled “Here’s How Much Congress’ Inaction on Social Security Could Cost You”, click here.