Social security is one of the successes achieved by Americans. The program provides the basis for economic security for over 47 million Americans and their families. Because of built-in safeguards, we're close to eradicating poverty among seniors. It also helps provide basic income to millions of families who have suffered the death or disability of an employed person. The financial security of social security is very strong. In 2003, he adopted a rate of $ 161 billion more than he paid out benefits. These programs have resources to provide services for baby boomers and their children and grandchildren. Security Trustees predict that they will pay steadily increasing benefits for at least many more years, when the live baby boom will mostly be in the 1980s and 1990s. If the long-term growth rate of the US economy drops to half its level from the last 50 years, the trust fund may be exhausted after 2042, but social security payroll taxes alone would still cover benefits worth about $ 1,000 more after inflation than today's senior citizen. Using less-pessimistic assumptions, the low-cost fiduciary forecast predicts that it will continue to provide each generation of pensioners with more generous benefits than their predecessors throughout the 21st century. If social security finances are really in good shape, why have so many politicians, political analysts and reporters warned us that something needs to be done to save them? How many Americans have found that they will not be there. Misconceptions about social security are common because long-term predictions based on many assumptions are reported as facts, often distorted, and almost always taken out of context. In addition, some organizations and individuals involved in privatization are driven by the ideology or the hope of getting billions of dollars in investment fees that a privatized system could generate.
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