Congress Considers New Proposal To Raise Social Security Benefits

Now is the time to modernize Social Security. The system has worked for decades but is falling on hard times. If nothing is changed, the Social Security Disability fund will be depleted by the end of 2016 and the Social Security Retirement fund will not be able to pay full benefits starting in 2033. This will put millions of Americans into financial crisis as those who have paid into the system and rely upon benefits will not have enough money to live in dignity and financial independence. In some ways the problem is simple; more benefits will be paid out than the current funding structure can support. However, the funding status is not the only piece of Social Security worth examining. In fact, the funding shortfalls give us a great opportunity to re-examine Social Security from top to bottom and update it to reflect the current state of the United States and its senior population.