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Podcast: The Lean to the Left Podcast
Episode: Can Social Security Be Saved?
Description: Unless our political leaders demonstrate both wisdom and political courage, Social Security will run out of money in nine years and beneficiaries will see their checks slashed automatically by 25 percent. And that will mean an average annual reduction of $17,000 or $18,000 per year, according to James B. Lockhart III, former Principal Deputy Commissioner and Chief Operating Officer of the Social Security Administration during the administration of President George W. Bush. “Either Congress can reform the program or at that point, it would take half a trillion dollars a year to make up for the difference of promised bene...