Social Security’s Financial Woes - Motley Fool

The year 2021 was a milestone year for Social Security. Something that hasn’t happened for nearly 4 decades once again occurred in 2021 – Social Security took in less money than it paid out. The numbers by themselves may not be especially alarming, since the 2021 shortfall was “only” about $31 billion dollars (a small amount when compared to the program’s $1 trillion annual price tag). But to pay full benefits to everyone, that $31 billion was withdrawn from Social Security’s reserves held in the Trust Fund, and that pattern is forecasted to continue in exacerbated fashion unless Congress takes corrective action. According to Social Security’s Trustees, the Trust Fund reserves will be depleted in 2034 which will mean an across-the-board cut in benefits unless something is done to restore the program to financial solvency. Problem is, Congressional disharmony seems to be in the way, as explained in this Motley Fool article by Sean Williams. Click here to read more.

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 reviewAMAC’s Social Security Guarantee, click here.

Notice: The link provided above connects readers to the full content of the posted article. The URL (internet address) for this link is valid on the posted date; cannot guarantee the duration of the link’s validity. Also, the opinions expressed in these postings are the viewpoints of the original source and are not explicitly endorsed by AMAC, Inc.; the AMAC Foundation, Inc.; or

What's Your Opinion?

We welcome your comments. Join the discussion and let your voice be heard. All fields are required

Website by Geiger Computers