Bernie Sanders’ Social Security Plan overlooks a number of ongoing demographic changes

We all know Social Security is in trouble. The program is expected to experience its first net cash outflow this year. According to the 2019 report from the Social Security Board of Trustees, if things continue, the program will exhaust its $2.9 trillion in asset reserves by 2035 resulting in current and future retirees seeing their benefit cut by up to 23 percent.  In Sean Williams’ column for Motley Fool, “Everything Wrong with Bernie Sanders’ Social Security Plan”, he notes: “while there’s still much to be decide on the Democratic Party ticket, Senator Bernie Sanders is the current front-runner for the nomination and he also happens to be one of the few Democrats to have fully detailed his plan to fix Social Security.”  Mr. Williams’ reviews a few of the more than a half-dozen changes Sanders’ has proposed to the program.  Read his column here….

The Association of Mature American Citizens understands Social Security must be preserved and modernized.  This can be achieved by making modest changes in cost of living adjustments and the retirement age, with no additional taxes on workers.  AMAC advocates for a bipartisan compromise, “The Social Security Guarantee Act,” taking selected portions of bills introduced by former Rep. Johnson (R-TX) and current Rep. Larson (D-CT) and merging them with the Association’s own well researched ideas.  Read AMAC’s plan here.

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