The Triple Whammy That Hit Social Security
According to yesterday’s annual report from their Trustees, Social Security and Medicare have been hit by a triple whammy. Their promised benefit levels will sink because of fewer immigrants, a declining fertility rate, and the 2025 tax law. If the President and the Congress do not figure out a solution, soon, you and I will not get our entitled benefits. For Social Security, the two numbers to remember are 70 million and $160.2 billion. With 70 million individuals receiving Social Security benefits, we wind up with a $160.2 billion shortfall. ….[READ]
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