The Cost to Fix Social Security Rose $2.9 Trillion in 2020
As some of you may be aware, the nation's most successful social program is barreling toward serious trouble.
Despite paying out benefits without fail for more than 80 years, the Social Security Board of Trustees has cautioned lawmakers on Capitol Hill since 1985 that long-term revenue collection would be insufficient to maintain the program's existing payout schedule, inclusive of cost-of-living adjustments. The newly released Trustees report for 2020 echoed this same sentiment, but with an added twist.
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Source Fool.com