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Reaffirming the Fact That Social Security Will Be There…Just Maybe Reduced, though.
It’s been one of the most persistent rumor circulating in the airwaves for some time…this impending assertion that Social Security is facing bankruptcy about a decade from now. Walter Gottlieb, writing in a post on the National Committee to Preserve Social Security and Medicare website (NCPSSM), offers clarification on the misguided nature of this recurring untruth, explaining that insolvency is not bankruptcy. Quoting NCPSSM President and CEO Max Richtman, Gottlieb offers that “Contrary to conservative claims, Social Security is not ‘going bankrupt’; the program will always be able to pay benefits because of ongoing contributions from workers and employers. In fact, this is yet another Trustees report showing that Social Security remains strong in the face of turmoil in the rest of the economy. Its projected insolvency date has stayed roughly the same even after a global pandemic and recent economic upheavals.” Read Gottlieb”s post here…