In Just 15 Years, Social Security Retirees Could Face Benefit Cuts of More Than $16 Billion a Month
Throughout the United States, around one in six U.S. residents received Social Security benefits last year. Older Americans make up the vast majority of those who get money from the Social Security Administration (SSA), accounting for as many as four out of five beneficiaries.
For millions of seniors, this income is a lifeline making it possible to afford the essentials once a paycheck stops coming. But sadly, both current and future retirees can't count on Social Security continuing to provide the full payments they were promised.
In fact, in as little as 15 years, a dramatic and catastrophic benefit cut could happen that would cost seniors more than $16 billion per month.
Source Fool.com
