Bad news, millennials: Social Security will be insolvent decades before you retire

The Social Security trust fund is expected to run out in just 18 years, according to a government report released on Wednesday.

The Social Security and Medicare trustees’ annual report concluded that if lawmakers do not act by 2034, the Social Security program will only be able to pay retirees 79 percent of promised benefits.

This estimate is unchanged from last year, while the Medicare trust fund is now expected to run out two years earlier than expected.

Only 6 percent of millennials expect to receive Social Security benefits at their current levels, while 51 percent don’t expect to receive any benefits at all when they reach retirement age.

Extending the life of program will require either raising taxes or cutting benefits, though, obviously, either course of action would be a highly unpopular political decision. Even among millennials, 61 percent oppose cuts to Social Security benefits.
 

 Read more at Red Alert Politics

Current News

Roger Stone sentenced to 3 years

Roger Stone sentenced to 3 years

GOP operative Roger Stone was sentenced to more than three years in prison on Thursday after days of drama ensnaring career prosecutors, the attorney general and the president over...  Read more

Feds Knew 11 Years Ago About Epstein Key Witness Who Could’ve Changed Everything

Feds Knew 11 Years Ago About Epstein Key Witness Who Could’ve Changed Everything

More troubling details have emerged about the previously secret non-prosecution agreement in Florida...  Read more

STEVE SCALISE WINS TWEET OF THE YEAR

STEVE SCALISE WINS TWEET OF THE YEAR

Yes, it seems Ellison completely forgot about Bernie Bro James Hodgkinson...  Read more

Adam Schiff Warns Trump After Roger Stone Sentencing: Pardoning Would Be ‘Breathtaking Act Of Corruption’

Adam Schiff Warns Trump After Roger Stone Sentencing: Pardoning Would Be ‘Breathtaking Act Of Corruption’

Democratic California Rep. Adam Schiff called Trump associate Roger Stone’s sentence...  Read more

Trump stirs pardon speculation with condemnation of DOJ’s Roger Stone treatment

Trump stirs pardon speculation with condemnation of DOJ’s Roger Stone treatment

President Trump's fiery reaction to the Justice Department's sentencing recommendation for Roger Stone is stoking...  Read more

Deep State: Trump Dumps Dozens Of Obama Holdovers In The National Security Council

Deep State: Trump Dumps Dozens Of Obama Holdovers In The National Security Council

President Donald Trump is cleaning house at the National Security Council, scrubbing dozens of Obama administration holdovers in the...  Read more