Here's Why I'm Not Worried About Social Security Cuts
You may have heard rumors that Social Security is going away. But that's just plain not true.
Social Security gets the bulk of its funding from payroll taxes. So as long as we have an active workforce, the program should be in a position to pay benefits to some degree.
But in the coming years, as baby boomers exit the workforce in droves, Social Security's primary source of revenue is expected to shrink. And unless lawmakers manage to find a way to pump more money into the program, Social Security may have to cut benefits universally once its trust funds run out.
Source Fool.com
