Putting 2034 in Perspective
Quite a bit has been written over the past year or two about Social Security’s date with the depletion of its reserve funds, with 2034 positioned as the project year the Trust Fund reserves would reach zero. Contrary to popular beliefs, that event alone would not mean that Social Security benefits would stop…but it does mean that absent legislative action to correct the program’s funding stream, there could be a substantial reduction on benefits at that point. In a post today on helenair.com, the Motley Fool’s Sean Williams discusses how the 2034 date could change, and offers conjecture on the the potential for action by Congress to resolve the long-term funding problem.
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