Limit cost of living increases
The June 3 edition of The News-Enterprise contained a story about Social Security with questions answered by an array of officials.
The story indicated trustees project depletion of Social Security funds by the year 2033 — in 20 years. Once the reserves run out, incoming payroll taxes will cover roughly 75 percent of promised Social Security benefits, which would require an immediate 25 percent cut in benefits. This cut would reduce a monthly Social Security payment of $1,266 to $950.