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This is why Social Security is running out of money | Just The FAQs



With a rapidly growing aging population, securing Social Security funds is now more crucial than ever. But how did we get here in the first place? We explain.

Who would imagine that you could get a wrong estimate of your Social Security benefits from — guess who — the Social Security Administration?

The story is yet another reminder about how you need to double-check your numbers, take a hard look at what you’re being told and keep good records of previous Social Security statements.

In an odd quirk, Social Security finally acknowledged in early August that a glitch caused the agency to send out some incorrect “On Request” paper statements. The troubled reports were triggered if you asked for information on your Social Security account via a paper form, known as an SSA-7004.

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30 comments

  1. S.s is a scam anyway always has been always will be ..s.s is for so called when you retire you have money saved .."example " say you worked your whole life and your 66 or soo and decide on done working Bering doing this since I was 18 and just say you have 200,000 in s.s and say you get s.s and your on it and towards the rest you recived 75,00 of that back and that you get sick and die what happens to that 125,000 left over why does the goverment 100% keep it isn't s.s your money why can't we give our left over to our family like a "will" when it's your own money you worked your a$$ off for and should be able to give it to who ever …and not just that s.s is bull 💩 because when you recive you check they take a chunk out for Medicare and hardly have much $$ for the month …s.s is a modern slavery at the end we all lose face it folks your put in a system and when you work they take money out your checks every week " for your so called retirement savings " and when it's time for that retirement they take every little bit they can from that s.s check….i believe s.s should be a choice like a bank if we wanna be in it or not ..we don't have a choice your put in s.s no questions asked and get screwed from your own hard working money …i just don't get why we are not allowed to give our left over s.s money to our kids it's our hard working money we can say who gets it not our so called good goverment 👎🙊…at the end of the day I can care less if s.s runs out because it's about time this scam system goes down….

  2. Ronald Reagan liquidated all the assets in Social Security to balance the budget and put that money into the economy in the 1980's , a 7 trillion dollar surplus that would be around 30 trillion today .. Its that simple

  3. Great 16 years! We'll all be dead from the apocolypse. Parable of the fig tree and the generation that will not pass until the rapture happens, then there is 7 years of tribulation, and end of the world. Isreal became a nation in 1948, 71 years ago. Highest mortality rate is like 80 years old (US). So anyone feel like erecting a statue?

  4. All of that may be so.
    Failure to mention massive fraud, embezzlement, mismanagement of market funding & tax fraud, stories that have been in the news, does not make this an informative article.

  5. The REAL cause is NEOLIBERALISM!

  6. Social Security will be Solvent in its current form until 2050. It is not and, never has been, dependent on tax payer contributions.

  7. That’s sad I hope it doesn’t run out

  8. hOW MUCH HAS GONE ONCORPORATE WELFARE? Most taxpayer money. Big Pharma gouges millions of taxpayer funds every year in one form or another.

  9. Ahhh, I don't give a rat's patootie. I'll d34d by then!

  10. If government was in charge of sand. We would run out of it.

  11. LIES FROM COMMUNISTS USA TODAY!;

  12. ENOUGH OF THE BULLSHIT! Social security has MASSIVE EXCESS OF FUNDS!

  13. Its happening all over the world👽

  14. NOT giving tax cuts to the 1% would have helped.

  15. Whatever you do, don’t raise taxes on the rich!

  16. There is an easy fix. Just raise the earning limit that is subject to SS contributions. Bernie Sanders has mentioned this and supports this move that would expand coverage for all retirees.

  17. You neglected to mention how much of Social Security money the government borrows and never pays back. And I don’t believe we’re running out of money for Social security .

  18. Build the wall and stem the illegals bam there's the money for social security.

  19. Millions of allegedly disabled people who start collecting in their 30's are draining the system. This lady in my neighborhood stop working when she was 50 cause the doctor told her she had bone cancer. She just turned 75 an she mows her own lawn with a push mower. Her cancer has been in remission for 25 years. I know people who are in their 30' collecting.

  20. I need you help please danger peple Brasil . Cansl de simpatia j o

  21. Great…16 years from now is when I'll be eligible.

  22. Looks like I'm going to outta space 🌠🌎

  23. Here is an I.O.U.. Sorry bout that – Boomers

  24. You take it from the rich sample no money is taken from the rich at the moment actually the opposite they get benefits of vast amounts. business transactions like shares will bring in big Revenue half percent revenue on each share transaction

  25. Social Security is NOT running out of money!!!

  26. It's because money keeps getting taken out of it to pay for dumb shit, and the money taken out never gets replaced

  27. I don’t believe that…… why send billions of dollars out of space when here on earth it’s not doing to well…

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