An official report suggests that the Trust Funds will deplete earlier than originally thought. It is essential we help ensure seniors receive the benefits many rely on.
Social Security was expected to become insolvent in 2035. This date has changed due to the pandemic; the impending bankruptcy is now closer than anticipated.
Although some of the highest COLAs have been estimated for 2022, there is still the real possibility that this increase wouldn’t make a difference. Any COLA increases may just end up being “absorbed by higher Medicare ... premiums.”
With talks about Social Security's future constantly underway, seniors can easily be anxious about finances. After all, benefits payments make up 33% of a retiree's income.
Anyone of influence calling Social Security a welfare program implies recipients cannot survive without help.
