Expanding Social Security benefits will become a campaign issue for two simple reasons: older people tend to vote, and voters like politicians who are profligate with other peoples’ money. Now that Sen. Warren has opened the subject, expect a lot of debate, particularly in states with large retirement populations.
However, once the elections are over, and the dust settles, expanding Social Security will be a dead end issue. With the vast numbers of Baby Boomers set to retire over the next decade, there simply isn’t enough money to go around with today’s payouts, let alone increasing them.
You see, a lot of folks take more out of Social Security than they put into it isn’t even close.
The opinions expressed within this report are those of John Norris as of the initial publication of this blog. They are subject to change without notice, and do not necessarily reflect the views of Oakworth Capital Bank, its directors, shareholders, and employees.