Social Security Running Out Of Money Sooner Than Expected
Baltimore, MD (WIBX) - Patty Duke and Star Trek's George Takei appear on their website telling visitors to "boldly go where no where has gone before," but in reality there may be nowhere to go.
The Trustees of the Social Security Administration are reporting that benefit trust funds may be all used up by 2033. That's three years sooner than expected unless the Fund gets an additional $8.6 trillion during the next 75 years.
Michael Astrue, the Commissioner of Social Security, said that the report is troubling but not altogether unexpected. He said it's up to Congress to save Social Security.
In the meantime the SSA wants potential beneficiaries to "boldly go" online and do as much as they can through the Internet. Not only will it take you places that you may not have gone before but it may save the agency some well-needed cash to keep operating.