3 Social Security Changes We Could See In the Future
Social Security is an important program that sustains millions of seniors. Without it, many retirees would no doubt struggle to cover even their basic expenses.
But Social Security is running into some financial issues. In the coming years, it expects to owe more in benefits than it collects in revenue. That's a problem lawmakers need to address to prevent benefit cuts.
Another issue with Social Security is that its annual cost-of-living adjustments, or COLAs, have failed to adequately keep pace with inflation for many years, even though they're based on inflation data. Because of this, seniors on Social Security have consistently been losing buying power over the years.
Source Fool.com
