The new report from the Social Security Board says they might need to make Social Security benefits smaller in 2035 and Martin O’Malley, who’s in charge of Social Security wants Congress to fix this soon so the program can stay strong.
Social Security Benefits at Risk – Urgent Call for Congressional Action to Ensure Financial Stability
According to Just The News, the latest report from the Social Security Board of Trustees says that Social Security benefits might have to be made smaller starting in 2035. Before, they thought the trust fund would run out in 2034 but now they think it’ll be a year later. Martin O’Malley, who’s in charge of Social Security and used to be the governor of Maryland says Congress needs to do something about this problem soon.
This news about maybe making Social Security benefits smaller shows that there are some big problems with the program. If Congress doesn’t do anything older people and those who will retire later might have trouble with money. O’Malley’s message is important because it tells lawmakers they need to find ways to keep Social Security strong for a long time.
READ ALSO: $5.8 Million Settlement: Chicago Department Of Water Management Confronts Systemic Discrimination And Pursues Cultural Reform In Landmark Racism Lawsuit-Are You In Support?
2035 Social Security Benefit Cuts Projected: Urgent Call to Congress for Action! (PHOTO: Washington State Wire)
Planning for Social Security‘s Future: Why Congressional Action is Crucial
Furthermore, as people talk more about what to do with Social Security benefits it’s really important for Congress to take action. They need to figure out how to make sure Social Security stays stable for the future. This matters a lot to millions of Americans who rely on Social Security to help them when they stop working. By planning ahead and making smart decisions now Congress can make sure Social Security stays helpful for many more years.
READ ALSO: EV Tax Credit Debate: Mixed Reactions, Criticisms, And Impact On Consumer Choices – A Look At The Latest Federal Regulations!
