Social Security’s funding problem has been known for decades, and yet nothing material has been done to fix it during my lifetime. The issue, of course, is that our two major political parties do not agree as to what the fixes should look like (i.e., primarily cuts in benefits or primarily increases in taxes).
Alicia Munnell (Director of the Center for Retirement Research at Boston College) recently proposed that any changes that are made should include a mechanism that would automatically make adjustments as needed going forward, in order to prevent such a situation from recurring.
Other Recommended Reading
Thanks for reading!
