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Social Security’s Looming Insolvency and a Call for Answers
Many people keenly aware of the funding crisis facing Social Security in less than a decade have been distressed by the primary candidates’ lack of serious discourse on the issue in this presidential election cycle. And nowhere is this distress more profoundly felt than among retirees, where, according to a study report from Transamerica Center for Retirement Studies, 82% of surveyed seniors rated the need to address the program’s funding shortfalls as their highest priority.
MarketWatch reporter Paul Brandus echoes this sentiment in a Morningstar post titled “Social Security’s trust fund is expected to be depleted in 2033. Where is the solution?” In his post, Brandus provides a synopsis of the insolvency issue and its potential impact on beneficiaries and summarizes key findings about voters’ preferences for addressing the problem. He goes on to call out the positions taken by both the Democratic and Republican candidates on facing the issue—or, actually, not facing the issue.
Check out this post in full here.