Starting in 2020, the Social Security Trust Fund starts to shrink
According to most experts, starting in 2020 Social Security will start paying out more in benefits than it receives in revenue That means that the Trust Fund, now at $2.8 trillion and the source to make up the difference, will start to dwindle. Since interest on the Trust Fund’s investments now accounts for about 10% of Social Security’s annual revenue, that interest income stream will start to get smaller too. And this only exacerbates the problem looming in 2034 when the Trust Fund could be totally depleted. Motley Fool’s Sean Williams provides an interesting perspective on this problem, and some thoughts on how to alleviate it.
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.
Click here to read the Sean Williams article about the big change coming in 2020.