Simple fact: Social Security will never go broke. As long as people are working, Social Security will have money. It may not pay as much money as we hoped, but it will never have no money at all. Heres some perspective: In 1983 Social Security was paying out more than it was taking in. We fixed it with a small increase in withholding. That increase, the result of Ronald Reagans Greenspan Commission, was designed to collect extra money to cover Social Security for Baby Boomers. There is now $2.8 trillion in the Social Security Trust Fund, which will full cover expenses for about the next two decades. To make it work after that is pretty painless - we just have to decide who pays.
Posted on: Thu, 22 May 2014 17:23:42 +0000
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