A novel thought: Cutting Social Security benefits a good thing?
Now before you jump to conclusions, take into consideration that the current Social Security benefit program is unsustainable, as reported in the latest Social Security Trustees’ Report release last June. And also keep in mind that it’s highly improbable that any proposed cut in benefits would affect current beneficiaries (that would be political suicide for anyone who professed such an action). But as Congress ponders how to fix Social Security’s looming financial issues, and since 2018 is a milestone year in which reserves must now be used to pay some benefits, it’s obvious that some type of cut over the long haul must be considered. Though various potential solutions have been put forth by both Democrats and Republicans, perhaps a bipartisan compromise - one which includes raising the full retirement age and thus gradually reducing future program costs - is a reasonable approach. This Motley Fool article by Sean Williams explains.
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.
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