More context on the recent funding report on Social Security – attached is a report by Alicia Munnell. I have a lot of respect for her research. If you are interested in details of the funding, it is worth skimming.

However, I cut and paste the 2 most important take-aways:

“The program faces a manageable financing shortfall over

the next 75 years, which should be addressed soon to

restore confidence in the nation’s major retirement


“While Social Security’s shortfall is manageable,

it is also real. The long-run deficit can be eliminated

only by putting more money into the system or by

cutting benefits. There is no silver bullet. Despite the

political challenge, stabilizing the system’s finances

should be a high priority to restore confidence in our

ability to manage our fiscal policy and to assure working Americans that they will receive the income they

need in retirement.”