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SOCIAL SECURITY IS SECURE IN 2025

 "Loose lips sink ships."  A few of you may remember that warning from World War II.

I see much concern in 2025 about the future of the Social Security program.  Many people are afraid that their benefits are immediately in jeopardy.  They are not.

Social Security continues to provide benefits through the terms of one president, then another, then another--without fail.  Presidents come and presidents go, but Social Security remains.

The important financial lifeline for millions of elderly and disabled Americans was established in 1935 by President Franklin D. Roosevelt as part of his New Deal.  Since then, no entitled beneficiary has ever missed a payment.

Are there issues that will affect Social Security in the future?  Yes, of course.  In the last decade or so, the Social Security Administration has been paying out more money than it takes in.  Thus, it is paying benefits out of its reserves.  Those reserves will eventually run low, some experts say by 2035.  If that happen, Social Security benefits will NOT abruptly stop.  But changes would then have to be made in payments.  Most likely benefits could then be reduced in some amount.  But that won't happen for another 10 years, which is both a long way off and coming up soon--depending on how you look at it.

Are these cuts around 2035 certain and unavoidable?  No they are not.  Congress can take any number of steps to avoid cuts to Social Security. I don't know anyone who believes that Congress will simply let benefits run try.  

There are half a dozen solutions that Congress could take, now or in future, to prevent insolvency of the Social Security trust funds.  It's a sensitive issue with voters and members of Congress have been very timid in taking action  But sooner or later they will.  

In any event, there is no immediate concern about whether you will continue to receive your benefits.  You will.  Rumors that this president or that president, this party or the other party are going to end or cut Social Security is nothing but fearmongering--much of it intentional, designed to help one political party or damage the other one.  Most of these rumors are nonsense.

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