A Panel Discussion by the 1983 Greenspan Commission--"Social Security Replacement Rates Already Going Down," Clip #3 [1:17]

https://twitter.com/Alexa__Blogger/status/266425861153099776

Here's the direct link.

Main Points:

According to Ms. Janice Gregory, President, National Academy of Social Insurance, Social Security benefits are already going down in the future (without further cuts).

Benefits are modest, approximately $14,000 annually.

After paying Medicare premiums, the Social Security "replacement rate of lifetime average earnings" in 2010, was 39%.

By 2030, it will be 32%.

Neither of these rates count "taxing" Social Security benefits, so it understates the problem.

“If a dog won’t come to you after having looked you in the face, you should go home and examine your conscience.” — Woodrow Wilson