Everything Wrong With Bernie Sanders' Social Security Plan
There's no beating around the bush anymore: Social Security is in trouble.
According to the 2019 report from the Social Security Board of Trustees, the program is expected to experience its first net cash outflow this year since 1982. This comes after Social Security's net cash surpluses in 2018 and 2019 were the lowest since the program was last overhauled in 1983. If things continue as the Trustees have forecast, the program will exhaust its $2.9 trillion in asset reserves by 2035.
If there's a silver lining here for seniors, it's that Social Security can't going bankrupt, even if it doesn't have a dime in asset reserves. But that's still little solace for Americans who are, or will be, reliant on Social Security income to make ends meet. These current and future retired workers could see their benefit cut by up to 23% within the next 15 years.
Source Fool.com
