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Social Security Works, Even in Crisis Mode
In this Forbes article, contributing financial author John F. Wasik weighs in and offers his take on Social Security’s current “crisis” and how it may be worsened by the coronavirus pandemic. Will current economic conditions, especially the impact on American jobs, cause many more people to claim benefits earlier, adding to the strain on Social Security’s finances? Perhaps, but according to this article, the current reserves held in the Social Security trust funds are a substantial foundation for Social Security’s future, and the program adjustments needed are certainly within reach. While the article references only one Congressional proposal to do this, several others also exist - the point being that resolving Social Security’s financial dilemma is within reach. Click here to read the Forbes article by John Wasik.
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.
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.