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Is there hope for Social Security? - The Motley Fool
Social Security’s primary trust fund, the Old-Age and Survivors Insurance (OASI) Trust Fund, is projected to be fully depleted in less than six years. With that fund running a $200 billion deficit last year, this isn’t a “sky is falling” projection. It could happen if congressional inaction remains the status quo between now and mid-2032.
Most folks who’ve studied the current situation over the past four decades (about how long it’s been since the trustees began signaling the problem and calling for congressional attention) know that the 1983 Amendments, designed to ward off a similar crisis, were enacted at the proverbial 11th hour. That benchmark creates hope that a similar last-minute reprieve is in store for the troubled Social Security benefit structure.
The Motley Fool’s Maurie Backman is one of those expressing optimism, though she hedges her bet: “Congress has never allowed Social Security to cut benefits before, so while you should still plan for them, there's reason to hope for the best.” Read her post on their website here.
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