Right now we are hearing a lot on the news about the debt ceiling and the idea that Social Security may cease to be funded. Politicians use Social Security as a political football. Please watch my video to get the truth.
Right now we are hearing a lot of threats that Social Security will run out of money if an agreement is not made by the political entities to raise the debt ceiling. Will Social Security run out of money? The short answer is – NO. Social Security benefits will continue to be paid from the Social Security trust fund. While there may be some delays in some Social Security services, checks should continue to be issued on schedule.
Social Security money collected through FICA taxes are placed in a Social Security trust fund. The trust fund is managed by the Department of the Treasury. Initially the trust fund was supposed to be a secure fund separate from the national budget. Unfortunately, the government has periodically borrowed from these funds. Right now the government has borrowed approximately $2.7 trillion from the Social Security trust fund. There are threats that Social Security will run out of money by 2033. This is because fewer workers will be contributing toward the trust fund. However, I have heard these threats for 20 years. It has never happened. I believe the US government is dedicated to honoring their commitment to the Social Security recipients.
If you know anyone who may need Social Security disability benefits, please give them my number, forward this email to them or click the links below that will share on Facebook, Twitter or LinkedIn.
I will listen to them and let them know if they have a good case or not. Remember, I never charge for consultations. And there is never a fee unless we win.
Take care and God bless!
Randy Adams, ADR