Latest News
What could it mean to Social Security Trust Fund with a lot less money coming in
Paul Brandus, the White House bureau chief for West Wing Report, writes in an Opinion column on MartketWatch.com, titled “Thanks to COVID-19, Social Security’s day of reckoning may be even closer than we thought.” He explains the collapse of the economy practically overnight, with 22 million Americans having lost their jobs in the last four weeks. The result, of course, is a lot fewer people paying those payroll taxes into Social Security system. So with a lot less money coming in, and a lot more soon be going out, this could mean the depletion of the trust fund sooner than 2035, possibly 2033. Read Mr. Brandus’ opinion column here…
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.