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Social Security set for major benefit cut in six and a half years, David Schweikert warns

Social Security set for major benefit cut in six and a half years, David Schweikert warns
Social Security faces steep benefit reduction

David Schweikert warns that Social Security will face a 24 percent reduction in benefits in about six and a half years under current law.

He cautions that this reduction would double senior poverty in America and double the number of baby boomers living on the street, describing the situation as absolutely immoral.

Schweikert has previously raised alarm over the pace of U.S. government borrowing, stating that Washington borrows over $90,000 per second and that higher interest rates could add $2 trillion in interest costs if they persist over time. He has also criticized the practice of borrowing new money to pay interest on existing debt, calling it a threat to fiscal sustainability for the U.S.. These concerns come as he continues to warn of looming risks to federal programs like Social Security.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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