SOCIAL SECURITY

By Pete Abington

Stuffed in section B of the Shreveport Times on Sunday was an article, which I felt worth re-printing that, might give many of you relief. Social Security is not broke and don’t let anyone tell you that it is.

Social Security has $2.85 trillion in reserve and ran a $35 billion surplus in 2016. It is projected this surplus will continue for five more years. It might get a little bumpy after 2021, which is the year that the baby groomer generation lower life expectations hit. Social Security is expected to swing to a deficit, which will continue for the foreseeable future. What we need to worry about is 2034, at which time the Social Security trust funds are expected to be completely depleted. This concerns many of us.

 

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