Retirement Dread Is Replacing the American Dream
“The outlook for the program is pretty grim. The trust fund for Social Security’s retirement and disability benefits will stop being fully funded in 2034, as projected last year. If no solution is found, promised benefits will take about a 25 percent cut. Medicare’s hospital insurance trust fund is projected to suffer a similar fate in 2029. That’s a lot of Americans facing a lot of uncertainty. Add trends in income inequality and health care, plus millions of Americans lacking workplace savings plans—or any retirement savings at all—and the report takes on a special, scary resonance this year.”