This is why Social Security is running out of money | Just The FAQs

This is why Social Security is running out of money | Just The FAQs



With a rapidly growing aging population, securing Social Security funds is now more crucial than ever. But how did we get here in the first place? We explain.

Who would imagine that you could get a wrong estimate of your Social Security benefits from — guess who — the Social Security Administration?

The story is yet another reminder about how you need to double-check your numbers, take a hard look at what you’re being told and keep good records of previous Social Security statements.

In an odd quirk, Social Security finally acknowledged in early August that a glitch caused the agency to send out some incorrect “On Request” paper statements. The troubled reports were triggered if you asked for information on your Social Security account via a paper form, known as an SSA-7004.

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13 Comments

  1. John sweda

    You take it from the rich sample no money is taken from the rich at the moment actually the opposite they get benefits of vast amounts. business transactions like shares will bring in big Revenue half percent revenue on each share transaction

  2. Brother Rob

    the government never runs out of anything for themselves. they only let the public supply run out so the people will commit more crimes, kill each other themselves, and eat each other. the government is absolutely useless and good for nothing. evil lives and works in high places while the good suffer and starve in low places for now but in the end times the old poor will be rich in the spirit and the old rich will become poor in the flesh.

  3. pat the trucker

    Millions of allegedly disabled people who start collecting in their 30's are draining the system. This lady in my neighborhood stop working when she was 50 cause the doctor told her she had bone cancer. She just turned 75 an she mows her own lawn with a push mower. Her cancer has been in remission for 25 years. I know people who are in their 30' collecting.

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