Last fall I attended the National Tax Conference in Washington DC. A expert on Social Security was one of the speakers. He said that Social Security could avoid bankruptcy by making a few simple changes. The changes would not impact anybody that was 55 or older and would receive 87% of their benefits. Unfortunately the government does not have the guts to address the problem. Take a look at what CNSNews.com is reporting.
(CNSNews) -- CNSNews.com reports, "Social Security faces an unfunded liability of $8.6 trillion, according to the 2012 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds." According to the story, "the $8.6 trillion in unfunded benefits Social Security is expected to pay over the next 75 years equals $73,167.83 for each of the 117,538,000 households the Census Bureau said were in the United States in 2010."
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