Social Security is About to Pay Out More Than it Takes In -- for the first time in decades

“By 2020, obligations to retirees and disabled Americans will cost more than Social Security’s revenue from payroll taxes, taxes on benefits, and interest earned on investments.

That imbalance is expected to continue until the SSA’s main trust fund—the Old-Age and Survivors Insurance fund—is depleted in 2034, at which time scheduled benefits would be cut 23 percent to retirees. This year’s projection is inline with last year’s Trustees Report.” Click here to keep reading.

Source: BenefitsPro