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Will Congress finally get serious about fixing Social Security? - Yahoo! Finance
If you read these pages regularly, you already know that the nation’s premier retirement benefit program – Social Security – is facing some serious financial challenges very soon (e.g., in 2032). We’ve published numerous articles at this site both describing the problem and defining a myriad of solutions available. Fact is, Congress has been aware of this looming problem for many years, but has previously “kicked the can down the road” – deferring any corrective action or program reform. Well, time has about run out, and Congress will now be forced to reform Social Security in order to prevent a 22% cut in everyone’s SS benefit in less than 6 years.
Congressional recognition of this, in and of itself, is progress. The Association of Mature American Citizens (AMAC) has, for years, been sounding the alarm on the need for Social Security reform. And we have been proposing a potential solution to various Congressional Representatives regularly. Well, finally, it appears that Congress will be turning its much needed attention to working together in a bipartisan manner, as evidenced by this Yahoo! News article by Carissa Mosness. It is also worthwhile to especially note the included bipartisan statement by several influential Republican and Democratic senators that the time to take action is NOW! For those of us who follow this issue this is, indeed, very welcome news!
For its part, the Association of Mature American Citizens (AMAC) has been at the forefront trying to strengthen Social Security by developing and proposing its Social Security Guarantee which restores the program to solvency without raising payroll taxes. 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.