Don’t Panic – Social Security is Not Going Away

If you’ve been following the news, then you’ve surely heard reports that Social Security is currently operating at a deficit. Doomsayers have even declared that it is going broke. That’s not exactly true. According to Kiplinger, as long as people are still working and paying taxes, Social Security can survive.

The publication debunked a common misconception that Social Security is in danger of disappearing. It’s not going bankrupt, but it is facing a serious funding shortfall. That’s because aging Baby Boomers and retirees outnumber the younger generations who make up most of the workforce. Because Social Security is paying out more than it is taking in, its long-term solvency is in danger. If nothing is done, in about 10 years Social Security will only be able to pay a fraction of its promised benefits.

The Seniors Trust is devoted to improving Social Security for all Americans. It wants Congress to enact the Social Security Expansion Act, which will increase benefits, create a strong and long-lasting trust fund, and guarantee every retired worker receives adequate Social Security benefits and a fair Cost-of-Living Adjustment (COLA). You can show your support by signing our petition to Congress.