Is Social Security Doomed to Benefit Cuts?
Millions of seniors today get much or all of their retirement income from Social Security. If you're still working but planning for retirement, you're probably factoring those benefits into your calculations.
Unfortunately, those benefits may end up being stingier than expected. That's because Social Security may be forced to cut benefits as early as 2035.
In the coming years, Social Security is expected to owe more money in benefits than it collects in revenue. A big reason is that baby boomers are expected to exit the workforce in droves, thereby cutting the program's primary revenue stream -- payroll taxes.
Source Fool.com
