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The downside of “fixes” for Social Security insolvency
It’s not going to be easy, and everybody knows this. After all, the can has been kicked for the past four decades, and the Board of Trustees noted that the kicking can only go another seven years before the cuts will take place. But taking no action is the easy way out, and doing nothing to address the problem is synonymous with endorsing a drastic cut in benefits for many who simply can’t afford a reduction.
So, what to do? There are numerous proposals on the table, and various theories have been put forth to address the funding issue. That’s the good news. The bad news, though, is the subject of a post by the folks at The Motley Fool on mitrade.com. It’s likely that nearly every specific change put on the table will have a disadvantage, so it’s reasonable to expect a fair amount of debate and deliberation as the trust funds’ full depletion point moves closer. Read the Motley Fool post here…
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