The 1 Reason Not to Worry About Social Security Cuts
You may have heard rumors that Social Security is going away. Thankfully, that's just not true.
What is true, however, is that according to the program's Trustees, Social Security is facing a revenue shortfall. And if lawmakers don't intervene, once the program's trust funds get depleted, Social Security might have to cut benefits to the tune of about 20%. Furthermore, those cuts could be on the table as early as 2034, according to the Trustees' most recent projections.
Clearly, the idea of Social Security cuts is a scary one for current and future recipients alike. But here's why you shouldn't lose too much sleep over the idea of a reduced Social Security benefit just yet.
Source Fool.com
