More Alarm Bells on Social Security

It’s not like we haven’t been ringing the bell for a long time. In fact, our headline postings on this site have addressed Social Security’s growing solvency issue a dozen times in just the past month. And today, we’re covering yet another one, this one echoing remarks from newly-appointed Acting Commissioner of Social Security, Kilolo Kijakazi citing the impact that the COVID-19 pandemic has had on Social Security’s Trust Funds. The reference to the Acting Commissioner’s comments are included in an article by National Interest technology Stephen Silver discussing Social Security’s long-term fiscal problems and the question of far into the future full benefits can be expected. Read Silver’s post here…

The Silver post makes reference to an Advisor Perspectives’ article by author Brenton Smith discussing the substantial increase in Social Security’s projected shortfall and stressing the mindset that “…the longer we wait the harder it will be to solve the problem.” The Association of Mature American Citizens (AMAC) certainly concurs, and has long reiterated that the solvency predicament is not a self-correcting problem. AMAC believes Social Security must be preserved and modernized.  This can be achieved with no tax increases by changing cost of living adjustments, the retirement age, and delayed credits.  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 research.  One component is Social Security PLUS, a voluntary plan to allow all earners to have more income at retirement.  This component is intended to appeal especially to younger workers.  AMAC is resolute in its mission that Social Security be preserved and modernized and has gotten the attention of lawmakers in DC, meeting with a great many congressional offices and their staffs over the past several years.  Read AMAC’s plan here.

Notice: The first two links provided above connect readers to the full content of the posted articles. The URLs (internet addresses) for these links are valid on the posted date; cannot guarantee the duration of the links’ validity. Also, the opinions expressed in these postings are the viewpoints of the original source and are not explicitly endorsed by AMAC, Inc.; the AMAC Foundation, Inc.; or





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