Washington Saved Social Security From Insolvency in 1983. Will the Same Strategies Work Again?
Big changes could be coming to Social Security soon, and some might look familiar.
Overview
If you're on Social Security, it's easy to feel like the program has never been in worse shape than it is today. Average benefits might be at record highs, but checks are losing buying power every year, and we're only six ways away from a potential 22% benefit cut.
This isn't the first time Social Security has been in a tight spot, though. It faced insolvency once before, and Washington saved it by passing reforms in 1983. While there is no planned fix for the program's current insolvency crisis, it's possible that Congress may fall back on some of the same strategies it used last time.
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.
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