Lawmakers Are Trying to Stop Social Security From Clawing Back Overpayments. But Will That Hurt the Program's Finances Even More?
Social Security is not in the best financial shape. In the coming years, the program expects to owe more in scheduled benefits than it collects in revenue as baby boomers stage a mass exodus from the workforce. And if lawmakers don't manage to find ways to pump more money into Social Security, benefit cuts will be a distinct possibility once the program's trust funds run dry.
Of course, benefit cuts could be catastrophic to the many seniors who get most or all of their income from Social Security today. And those cuts could also put future retirees in a dire financial spot.
That's why it's so important that Social Security do what it can to conserve funds and snag all the revenue it can get. And one way it's been trying to go about the latter is aggressively clawing back benefits as a result of overpayments.
Source Fool.com
