Social Security Is Scheduled to Run Out of Money Sooner Than Previously Expected, and President Trump Is Partly to Blame
This short-term gain for seniors has led to a long-term loss for Social Security.
Social Security Is Scheduled to Run Out of Money Sooner Than Previously Expected, and President Trump Is Partly to Blame
Overview
Seniors on Social Security just got some tough news about the future of their benefits. The latest Trustees Report estimates that the program has just six years until its trust funds are depleted. After that, beneficiaries could see their checks slashed by 22% without government intervention.
This is a bit darker than last year's report, which estimated the trust funds would last until 2033. There are several reasons for this, but one of the biggest is a change championed by President Trump.
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Originally published at www.fool.com.
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