5 Social Security myths that need correcting
January 30th, 2012|
Social Security is not the only cause of America’s fiscal problems, but it is Exhibit A in why it is so hard to fix them, according to CBS Money Watch.
There is so much disagreement about how the Social Security system really works. A handful of misconceptions tend to crop up repeatedly:
1: Social Security didn’t create the deficit and shouldn’t be cut to fix it.
2: Social Security benefits are earned; reducing them amounts to confiscation.
3: Social Security is funded until 2037.
4: The trust fund is invested in Treasury bonds, the most secure investments in the world. To suggest that the trust fund would not pay is blatant fear mongering.
5: Social Security is an easy fix.
Do you buy into some of these Social Security myths?
Or, should we ask ourselves tougher questions about bringing Social Security back into balace, such as: In light of all we owe–to our creditors, our children, and our future–how much do we want to spend supporting those ages 62 and older?