Social Security’s fiscal woes have been well-documented over the last 10 years. It is paying out more than it is taking in and it faces trillions of dollars in unfunded liabilities. The Social Security system will not be there when millennials hit the age of retirement.
Whenever somebody recommends raising the age of retirement or conducting means-testing for recipients, the left will start shrieking about how it’s unfair and it’s a war on the poor. Even President Donald Trump is opposed to entitlement reform, and this will wreak havoc in the future.
Simply put: it is experiencing a financial crisis.
Are you banking on Social Security to give you security in your retirement?
Think again!
PragerU is out with a video that highlights two important points: it’s going broke and it would be impossible to give you a decent retirement.
Here is the short video:
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