Midterm Elections: A Wake-up Call on Social Security? - Morningstar.com
In just four days, November 3 arrives, bringing the culmination of months of speculation about the composition of the U.S. Congress. Although campaign rhetoric has largely ignored Social Security insolvency, the incoming slate of senators will see the issue reach its breaking point within their term. For that reason alone, it’s reasonable to expect serious work to begin early in the 120th Congress to address the crisis now less than six years away.
One priority in dealing with Social Security’s looming—and now scheduled—insolvency is to promote a broader understanding of what’s at stake. Retirement reporter Alessandra Malito, in a post yesterday on morningstar.com, offers just such a promotional piece, assessing the insolvency issue and its impact on current and future retirees in America.
Ms. Malito’s post discusses several of the popular notions for dealing with the financial problems, noting that “Social Security reform ideas have floated around Congress for decades. Legislators have introduced proposals through the years, and policy-advocacy groups and experts have written blueprints to reverse insolvency.”
If you're just tuning in to the Social Security crisis, this post is an excellent read. Check it out here.
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.