Lawmakers Are Proposing a Delayed Full Retirement Age for Social Security. Here's Why That's Not Such a Bad Thing.
Social Security is not in the best financial shape. In the coming years, as baby boomers exit the workforce in droves, the program will see its payroll tax revenue shrink. That's a problem, since that's Social Security's primary means of funding.
Social Security can tap its trust funds in the coming years to make sure it can keep up with scheduled benefits as its payroll-tax revenue declines. But once those trust funds run dry, benefit cuts may be on the table.
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Source Fool.com
