Monday, July 24, 2017

Another Year, Another Decline in Social Security's Financial Health

Over at Forbes, I look at the results of the 2017 Social Security Trustees Report:

Yesterday, Social Security’s Trustees released their annual report on the program’s finances. There were no breathtaking changes, just a continuation of the slow and steady decline in the financial health of the federal government's largest spending program and the largest source of income for most retirees. With Social Security, no news usually equals bad news. The response from progressives is mostly to downplay the need for reform, stressing that there are another 17 years until Social Security’s trust funds become insolvent. The response from conservatives is mostly silence, since – after the failure of President George W. Bush’s reform efforts in 2005 – the right doesn’t have a clear idea of what they want to do about Social Security. Neither response should be encouraging for the public.

Check out the whole article here.

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