How Can the U.S. Salvage Social Security?
Social Security isn’t going bankrupt. Even after 2034 (when the Trust Fund is projected to be fully depleted) benefits will still be paid — but it may not be able to pay all of what retirees put in and were promised. And that, according to many polls, is very important to many Americans both young and elderly.
What to do? In short, there are two options: 1) increase revenues or 2) cut benefits. But figuring out which is fairer — and most likely to make it through Congress — is something economists, politicians, and policy makers have all disagreed on.
The Atlantic’s Bouree Lam explores some of the most frequently posed policy solutions for Social Security in this handy explainer. Keep it nearby for the upcoming Democratic Primary Debate!