No Social Security cuts through next year
While it has been widely publicized that the Social Security program needs Congress’ attention to strengthen it, it looks like no cuts to the program will occur at least through next year. But since Social Security benefit payments will exceed income starting in 2020, and depletion of the $2.8 trillion now in the Trust Fund would start at that time, action will be needed soon to avoid Trust Fund depletion in 2034. This article by Motley Fool’s Sean Williams appears at madison.com and discusses the new administration’s current take on Social Security which leaves any cut in benefits clearly off the table through next year.
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.
To read the Sean Williams article about no Social Security cuts in 2018, click here.