Social Security’s reserves could be gone by 2035
We’ve covered this topic in these pages numerous times before, but this article by Ernest Welin appearing in the Sarasota, FL Herald-Tribune covers the topic especially well. Social Security reserves, now standing at about $2.895 trillion, will start to be tapped beginning this year to pay benefits, and the reserves will be totally depleted by 2035 – if Congress does nothing between now and then to fix it. The article succinctly captures the problem and the reasons, as well as the possible solutions to restore the program to solvency. All that’s needed is a bipartisan Congressional effort. 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 review AMAC‘s Social Security Guarantee, click here.