Social Security's Judgment Day May Be Only 12 Years Away
It's time for 64 million current beneficiaries, and the tens of millions of future beneficiaries, to face one key reality: Social Security is in some very real trouble.
Since 1985, the annually released Social Security Board of Trustees report has cautioned that long-term revenue collection (defined as the 75 years following the release of a report) would be insufficient to cover outlays. This is to say that the existing payout schedule cannot be maintained over the next 75 years without some form of intervention from lawmakers, such as increased revenue and/or reduced expenditures.
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Source Fool.com
