Lawmakers Have Never Let Social Security Cut Benefits Before. Why's Everyone So Worried About It Now?
There's a reason 42% of Americans are convinced that Social Security might one day cease to exist, according to 2023 data from Northwestern Mutual. The program is facing a serious decline in payroll tax revenue, its primary source of funding, in the coming years as older workers retire in droves.
The good news, though, is that Social Security is by no means at risk of disappearing completely. Even though the labor force might shrink in the coming years, it's not going away, which means that Social Security isn't, either.
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Source Fool.com
