3 Reasons Not to Panic About Social Security Running Out of Money, Even Though Trustees Say It Will Happen
If you've been reading the news about Social Security recently, you've probably noticed that the headlines are pretty frightening.
Specifically, you've likely heard that the most recent Trustees Report comes with a warning that the trust fund supporting the benefits program is slated to run short. If and when this happens, an automatic benefit cut is a very real possibility since Social Security isn't allowed to borrow and can only pay benefits out of revenue coming in.
Now, all of this is true. The combined trust funds supporting the Social Security retirement and disability programs are expected to run out of money as soon as 2035. But, despite that fact, there's actually very little reason to panic about Social Security's future.
Source Fool.com
