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Old 04-04-2008, 09:57 AM
sweeps sweeps is offline
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Social Security won't "dissolve" in 2041 (or whatever the date). If it runs out of reserves, it would only be able to pay out what is coming in from tax revenues. So that might, for example, mean a 50% cut in benefits.

Also I would say be wary of projections that go out some 30-odd years. Economists that make even 5- and 10- year projections are typically way off.

Social security is not perfect, but it's unclear what could be done to it to make it "perfect". Completely getting rid of it is realistically not an option. Plus I would say there are much bigger issues to deal with in the short-term.
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