Is It the End of the Road for Social Security?

The headlines today are about the impending demise of social security, at least that seems to be the spin that many commentators are putting on it. The real story is that the social security system will start paying out more than it takes in sooner than expected—next year. As of 2020, the social security income statement will switch from a surplus to a deficit. One more thing to worry about and a sign of doom on the horizon, right? Not so fast. A necessary transition First of all, this transition is both long expected and necessary. Think about it: social security has been running a surplus for decades to build up a pool of capital that could be drawn down. The key here is the boomers, who w


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