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Social security isn't ending in 10-15 years, it just won't be able to pay 100% of promised benefits, only about 80%. In reality, sometime in the next 10 years t
by sgerenser 2y ago
Social security isn't ending in 10-15 years, it just won't be able to pay 100% of promised benefits, only about 80%. In reality, sometime in the next 10 years there will be new legislation to fix it, which will probably result in increasing the retirement age (resulting in a small cut in benefits), higher SS taxes particularly on high earners, and other formula tweaks.
- greentxt 2y agoSo they'll just move the goalposts, not remove them entirely? Isn't it a bit difficult to make accurate projections when the current state of things is totally unprecedented? In any case, thanks for giving me hope. Hope helps me cope. I really shouldn't doubt our political class. They always do right in the end. God bless America.
- sgerenser 2y agoYes the goalposts will be moved. But even if they don't (almost 0% chance of this), the worst case scenario is an across-the-board 20% benefit cut. Nobody was ever predicting or seriously expecting Social Security to just go away.