Social Security is staring at its first real shortfall in decades

 

Source: Jeff Sommer, N.Y.Times ( Paid Registration )

Next year, for the first time since 1982, the program must start drawing down its assets in order to pay retirees all of the benefits they have been promised, according to the latest government projections.

Unless a political solution is reached, Social Security’s so-called trust funds are expected to be depleted within about 15 years. Then, something that has been unimaginable for decades would be required under current law: Benefit checks for retirees would be cut by about 20 percent across the board.

Read Full Article: Social Security is staring at its first real shortfall in decades

Tags/Keywords

 

Search

Quick Menu

Facebook FTwitter T
 

Consumer Help Desk

Advocacy