Every year the Trustees of the Social Security Program are rquired to issue a report on the future of Social Security.
The 2019 report said the system would be out of money in 2034 or 2035 due to more people collecting and fewer paying in.
Now it's worse. I don't have a link but heard this on the Rick Edelman show...
Due to 36,500,000 people being kicked out of their jobs this Spring, Social Security will be out of money by 2029. Not entirely, but benefits will have to be cut 20% to 25% unless taxes are raised.
They will just increase the money supply to where they can pay in full. What will be reduced will be the purchasing power of the money you receive. The alternative is politically untenable.
