Will the Election Affect Social Security?
More than a decade ago, George W. Bush made waves with his plan to allow younger workers to save a portion of their Social Security money in personal retirement accounts. The proposal was decried by some as an attack on the system, and then-President Bush’s approval rating sank as he toured the country promoting the idea.
The plan was eventually abandoned, and that marked the last time a major overhaul of the Social Security system was attempted. However, politicians have continued to look for ways to shore up the program which could, under the current funding model, run out of cash in less than 20 years.
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