Unraveling the impending Social Security crisis
The United States Social Security system, a critical pillar of the nation’s social safety net, is facing an impending crisis. According to the government’s own Social Security website, starting in 2034, the system will only be able to pay out 80% of what was promised to hardworking Americans who were compelled to contribute. This looming shortfall is a cause for concern for millions of Americans who rely on these benefits for retirement security. Understanding the root causeThe root cause of this crisis lies in the structure of the Social Security system itself. To understand this, let’s consi...