5. It’s Been a Long Time Since the Last Changes
The last time any meaningful Social Security changes were passed into law was in 1983.
Just think about how many things changed since 1983 – yet Social Security didn’t. The full retirement age schedule hasn’t been adjusted, the new life expectancy hasn’t been taken into consideration; these things already bring a major unbalance in the way finances are being calculated.
Like any other system, Social Security can’t work unless it is modified according to the latest laws and statistics.
What does it mean? Hopefully, that lawmakers will take all of these things into account and make a difference for the better.