Metaphor of the Moment: The 77% Asterix
July 30, 2015
*The law governing benefit amounts may change because, by 2033, the payroll taxes collected will be enough to pay only about 77 percent of scheduled benefits.
Social Security will be broke in less than 20 years. Don’t believe it? The Social Security Administration does. That’s why your SS Benefits statement includes the preceding disclaimer explaining why retirees won’t get full benefits. Myra Adams of the National Review gives details.