Social Security Deficit Could Be Coming Sooner Than We Thought

It appears Americans are losing faith in our government to save Social Security. An article by CNET cites a survey by Nationwide that found one-third of adults don’t think they will receive any Social Security benefits by the time they retire.

There may be some basis for those fears. The most recent report by the Congressional Budget Office (CBO) found that, without government intervention, the Social Security Administration trust fund will become insolvent in 2032. Last year, the CBO predicted the Social Security trust fund would last until 2034.

The Seniors Trust believes the answer is to enact the Social Security Expansion Act. This landmark piece of legislation will strengthen and expand Social Security for current and future generations, extending its solvency for the next 75 years.