Obama says Social Security just needs a ‘tweak’

In a recent interview with the American Association of Retired People (AARP), President Obama discussed unemployment, gas prices, tax cuts, and Social Security.  He said that it will not take much to fix Social Security and to keep it from going broke, reports the Orlando Sentinel.

Many financial experts have said that the Social Security program is only sustainable by cutting benefits or raising taxes, but Obama disagrees, saying that only minor adjustments would do the job.

“Social Security is not in an immediate crisis,” the President  told the magazine. “We can easily tweak the Social Security program while protecting current beneficiaries.”

The program has been hurt by the slow economy. Also the huge baby boom generation is retiring and draining Social Security resources.

At age 50, Obama has reached the AARP’s eligibility age. In the interview, he was optimistic about the prospects of adjusting the program, which was estimated last month that at its current rate will only be able to provide 75 percent of promised benefits by 2033.

From the Oval Office interview, the president said,“We can’t privatize it. We don’t want it to be subject to the winds in the stock market. We want it there for people over the long run.”

If you or someone you know needs help with Social Security Disability benefits, contact the Social Security lawyers at Fleschner, Stark, Tanoos & Newlin.

Reach out to a Terre Haute Personal Injury Attorney Today

The financial burden that often comes with a serious injury can be too much for many people to bear. Unexpected medical debt, damaged personal property, and the sudden loss of income can impact the budgets of most families. The good news is that a successful injury claim could help reduce that financial strain after a serious accident. Get in touch with a Terre Haute personal injury lawyer with Fleschner, Stark, Tanoos & Newlin to learn more.

    *You agree to our Terms and Privacy Policy, and you are providing consent to receive communications including calls, emails, and texts.