I will be 68 years old in 2034. That’s the year that the latest Social Security budget forecast says it will start to run out of money and be unable to pay its full benefits. I will only have been receiving the benefits for 1 year at that point.
It may not seem like an urgent matter, but management of SSI is a slow moving, demographic train wreck. The numbers in the Administration latest report are appalling. There has been no ‘fixes’ attempted since Reagan was in office. The story sharing this latest, dismal forecast was relegated to a lonely two paragraph blurb on page 14 of our metro paper.
Perhaps we’ll see what political will there is for reforming the current system when Medicare starts to run out of money in 5 years … 2026. That’s 2 years into the next Presidential term, so I will hope that these underfunded entitlements will be a key election issue for the first time in decades.
Then again, I’m not real hopeful. Are you?
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