Myths vs. Reality on how to fix Social Security
This is quite an eventful year for Social Security – for the first time in nearly 4 decades the program will pay out more in benefits than it receives in revenue. Surely not an event to celebrate because that means that depletion of the $2.9 trillion in cash reserves has started. So what steps should be taken to reverse that situation and restore the program to a positive cash flow? Well, if we were to go by the opinions of John Q. Public, we’d be barking up a wrong, perhaps an even non-existent tree, because there are some myths about how to restore the Social Security program’s finances which simply refuse to die. This Sean Williams article appears in the Southern Business Journal and discusses two persistent myths the public mistakenly believes would help, and two possible real fixes that, except for the discord in Congress could actually help Social Security’s financial issues. Click here to read more.
AMAC has been at the forefront trying to strengthen Social Security by developing and proposing its Social Security Guarantee. AMAC has been discussing and continues to discuss this common-sense solution with Congressional Representatives in its efforts to protect America’s senior citizens who rely on Social Security. To review AMAC’s Social Security Guarantee, click here.