How to fix Social Security before benefits are cut - Marketplace
Many Americans think since Congress resolved the debt limit crisis by suspending it until 2025, all is well with the federal funding of government programs. That is not the case. For the past thirteen years, the Social Security program has been running a cash-flow deficit, and at the current rate of spending, the trust fund surplus will run dry within the next ten years. When that happens, Social Security will cut benefits to Americans by about 23 percent. The link below is a conversation between Marketplace’s Kai Ryssdal and Dennis Jansen, an economics professor at Texas A&M, on how he would resolve the Social Security insolvency. Read the transcript here…
Also, while this issue is top of your mind, consider that the Association of Mature American Citizens (AMAC) and AMAC Action have crafted an approach to resolving the impending catastrophe by implementing modifications to the cost of living adjustments and payments to the highest income beneficiaries plus gradually increasing the full retirement age similar ideas as stated in the above article. Click here to read more about AMAC Inc. and AMAC Action’s plan to modernize and guarantee to achieve solvency and ensure benefits continue without automatic cuts.