Social Security Faces an Imminent Funding Shortfall
Social Security’s funding shortfall is typically viewed as a long-term problem. After all, the Old-Age and Survivors Insurance fund is expected to have enough funds for another couple decades. But the Social Security Disability Insurance fund will probably become insolvency by the end of 2016. If Congress doesn’t act soon, the disability fund won’t have enough money to pay benefits. The fund, reports CNNMoney, will be able to pay approximately 80 percent of benefits to 8.8 million disabled workers and their spouses and dependents. Not surprisingly, it’s not clear when Congress might take up the issue or how — or even if — it might solve..Read More
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