This Chart Shows Why Social Security Will Be Broke in 10 Years
Kelsey Harris / @KelsRenHar / December 01, 2014 / 0 comments
Social Security’s trustees projected in 1983 that the recently enacted Social Security reforms would keep the program active for at least the next 75 years, through 2058. However, according to research by James M. Roberts, a research fellow for economic freedom and growth at The Heritage Foundation, that approach date has accelerated.
“If the trend since 1983 continues, the program will become insolvent in 2024—34 years earlier than originally projected,” Roberts writes.