President Trump Has Made This Prisoner's Dilemma for Social Security Worse
Social Security is in trouble -- and the president's policies have made it worse.
Overview
Social Security is in trouble. That doesn't mean benefits will end, because there will always be revenue coming into the program to pay retirees some of what they are owed. But the revenue isn't enough to pay all the promised benefits, and Social Security's trust fund is running dry.
No one disputes these facts, and the most recent Social Security Trustees' report gave some dates for when the trust fund will dry up.
The Old-Age and Survivors Insurance (OASI) Trust Fund is expected to run out in 2032, leaving enough money to pay 78% of promised benefits. If the OASI and disability trust funds are combined, the money will run out in 2034, leaving enough to pay 83% of promised benefits.
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Originally published at www.fool.com.