“Social Security funds could run short by 2032, program’s Trustees warn” by Scott Horsley, NPR
Quote:
“A trust fund that helps pay Social Security benefits for more than 60 million retirees and family members is expected to run out of money in 2032. Unless Congress makes changes by then, seniors will see an automatic cut in their monthly benefits of 22%, according to a report released Tuesday by Social Security Trustees. … The forecast shows the trust fund will be exhausted three months earlier than was predicted last year. Social Security’s finances are challenged by a falling birth rate, reduced immigration and the tax cut passed by the Republican Congress last year.”
LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:
Otherwise, have a nice day.