The $400,000 Social Security Mistake
Congressman Sam Johnson (R-TX) opened today’s hearings on Social Security with grim statistics. Unless Congress acts, Americans receiving disability benefits won’t get full benefits starting in 2016, and when Americans who are 48 today reach full retirement age in 2033, they and everyone else receiving retirement and survivor benefits would see a 23% benefit cut. “Social Security is facing the greatest challenge since 1983,” Rep. Johnson said, referring to last major overhaul under President Ronald Reagan. Read more…
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