Fewer workers trying to fund more Americans receiving a benefit… that is the essence of the long-term problem facing Social Security. And those workers must pay more in taxes or those beneficiaries must collect less in benefits (or both)🤑😢
We can’t control what others do and we can’t stop misfortune from striking. But we can control our own actions. Those who are financially prudent will most likely enjoy success, even if events don’t always go their way.
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No. The problem is that we knew, 45+ years ago that generational shifts were coming and Congress either unknowingly , unwittingly or perhaps intentionally failed to act. Dick, as a benefits guy with DB experience, you and I both know funding must change when the liability changes. Idiots like my former Senator Metzbaum who once claimed he had “saved” social security deserve all the blame – but he and others are conveniently dead after decades of buying votes.
It is no wonder Americans believe they paid for their benefits – past and current Congresses continue to tell them so. Now add Trump – all failed, most lied as well to buy votes.
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Can’t argue with that. If the funding had periodically been accurately adjusted we wouldn’t be having any discussions about insolvency. It’s amazing it’s been ignored for so long except saying it’s inadequate.
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