Social security is a foundation for many people. They need it to survive. Without it, they would fall far below the poverty line and need emergency assistance. The only issue here is that the money has been squandered. So there are two options. The government can pay people more money, not cut back on benefits, and just raise taxes. Or they can cut what people were expecting and deal with the consequences.
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Sources Used in This Video:
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Warning: Social Security faces a 23% cut - MarketWatch
https://www.marketwatch.com/story/warning-social-security-faces-a-23-cut-2017-11-27
_tr.book
https://www.ssa.gov/OACT/TR/2017/tr2017.pdf
Warning: Social Security faces a 23% cut - MarketWatch
https://www.marketwatch.com/story/warning-social-security-faces-a-23-cut-2017-11-27
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