When it comes to looking at Social Security’s future, it’s often a good news/bad news type of outlook.
Recent reports have emerged, detailing the fact that this program is showing improvements. Social Security, along with Medicare, is now expected to last longer before potential cuts are required.
While some view this as a victory, it’s important to remember the bigger picture. If policymakers hope to remove concerns about insolvency altogether, they must restore Social Security to its original roots.
To Fix Social Security’s Future, Look to Its Past
According to recent estimates, Social Security will now be able to pay in full through 2035. This is an improvement over other forecasts, which put partial insolvency at approximately 2033.
This is a sign that the economy is improving somewhat. But it’s also evidence that policymakers still aren’t treating Social Security like it deserves. When we consider its origins, we are reminded that it was conceived as a Trust Fund.
If this format was still in effect, there would be no concern about coming up with money to keep the program from running dry. The funds would be safely in their designated account, saved and invested accordingly to provide retirees with the payments they’ve fairly earned, adjusted for inflation.
However, we know this isn’t the case. While we can be optimistic about Social Security’s future, especially now that there’s more time to make changes, we must keep the main goal in mind.
That goal is to make policymakers restore the Trust Fund model, and pay back the money that was drained from it by Washington. How can we do this? We have to make our voices heard. Sign our petition to compel our lawmakers to fix this program. Let’s stop inching the goalpost forward, and solve this program’s problems once and for all.
