Social Security isn’t broke, but it’s badly broken.
There’s enough money currently coming into the retirement program to pay benefit recipients. However, without intervention, it will be like many struggling Americans, unable to pay everyone the full amount due each month.
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Each year, the trustees of the Social Security and Medicare trust funds issue reports on the current and projected financial status of the two programs, which are critical for keeping so many seniors above the poverty line. This year’s report, released this week, repeated the long-standing concern about the program’s financial stability: More money will be going out than coming in.
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May 08, 2024 at 09:00PM
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Advice | Social Security has to be fixed. But you still need your own savings. - The Washington Post
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