Is Social Security Really Going Broke?
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The Social Security system is broken and on it's way to being insolvent. So you do you fix Social Security? I'll outline 3 current proposals and give you a breakdown of how they would work.
Social Security is estimated to run out of money in March of 2033. At this point the estimate is that current benefits would need to be cut to 74% at that point for the system to remain solvent. It seems very unlikely that congress would allow benefits to be cut across the board. So what can they do to fix the Social Security system? We outline three proposals to shore up the system.