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It’s time for Congress to fix Social Security’s finances
It’s pretty well known by now that Social Security’s finances need fixing. Although the program’s reserves are expect to peak at about $3 trillion in 2022, in that same year it will start paying out more than it brings in through payroll taxes, interest and income taxes on benefits. Current forecasts are that all of the reserves in the Trust Funds will be gone by about 2034, unless Congress acts soon to fix Social Security’s financial issues for the long term. This Sean Williams article appearing at North West Indiana’s nwi.com explains the magnitude of the problem and what options are being considered to fix. Click here to read more.
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