This is what's REALLY going on with Social Security, and why you shouldn't be as worried as some headlines suggest, says M_C_Klein
People who do not work live at the expense of those who consume less than they produce. Workers put up with this because they expect, eventually, to join their elders in leisure and because they want insurance against the risk of becoming disabled.
The stability of the arrangement depends on the value of worker output growing in line with the value of what retirees consume. Anything else implies changes in the relative living standards of workers and retirees. This is the perspective from which one should read the latest... Subscribe or Sign In to continue reading.
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Social Security is headed for insolvency by 2035, government saysThe financial condition of the government's bedrock retirement programs for middle- and working-class Americans remains shaky
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Social Security won't be able to pay full benefits by 2035If Congress doesn't act soon, tens of millions of Americans will only receive about three-quarters of their Social Security benefits when they retire
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That expected Social Security shortfall won't stand in the way of expansion, advocates sayAs the annual trustees report warns of impending trouble if Congress doesn't act, advocates hope lawmakers take action to both strengthen the program's finances and expand its benefits.
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Social Security is running out of money, benefits on track to be reduced by 2035Social Security program running out of money, with benefits on track to be reduced by around 2035 unless Congress steps in, according to a report released by the Trump administration.
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Probable Misreporting Of Just-Released 2019 Social Security Trustees ReportThe just-released Trustees Report shows that Social Security has an accumulated surplus of roughly $2.9 trillion. It further shows that at the end of the century, it will cost just 6.07% of GDP.
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Surprise! Social Security has gotten healthierFor years, conservatives have claimed Social Security is on the path to insolvency. A new report shows it's actually gotten healthier in the last year. From columnist hiltzikm:
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Medicare, Social Security face shaky fiscal futuresThe financial condition of the government's bedrock retirement programs for middle- and working-class Americans remains shaky, with Medicare pointed toward insolvency by 2026, according to a report Monday by the government's overseers of Medicare and Social Security. Social Security would become
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Don’t believe this myth about Social SecurityThe program has issues, but it’s not as far gone as some people think.
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Expert advocates using 401(k) savings to fatten Social Security checksToday's retirees have high debts and low savings. Nobel laureate Richard Thaler thinks buying into an annuity-type program through the Social Security Administration can help solve that. But other experts are not so sure.
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Fewer Americans seeing crucial Social Security document due to budget cuts(The opinions expressed here are those of the author, a columnist for Reuters.)
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