Subject: Jill Schlesinger looks at Social Security
https://jillonmoney.substack.c...

Social Insecurity 2033
Social Security's trust fund is on track to run dry in 2033, which means the program and every recipient will be subjected to automatic cuts.

Hours before the Federal Reserve said that it would leave short term interest rates at 4.25-4.5 percent (no surprise there), a more impactful announcement emerged from the Social Security Board of Trustees. Social Security's trust fund is on track to run dry in 2033, which means the program and every recipient will be subjected to automatic cuts that will slash benefits by 23 percent unless Congress finally gets its act together.

You are likely familiar with this story, because it has been forming for more than 20 years. In its 2014 report, the trustees put it bluntly: “Neither Medicare nor Social Security can sustain projected long-run program costs in full under currently scheduled financing, and legislative changes are necessary to avoid disruptive consequences for beneficiaries and taxpayers.”

Social Security 101:

In the rest of the article, Jill lays out the history, the issues, and the potential solutions. It's worth the few minutes it takes to read to see things laid out clearly.