Mid 2024 Social Security Benefit Update

This podcast explores the current landscape of the Social Security Administration (SSA), highlighting recent changes and future trends. The speaker examines an emergency message from the SSA that significantly cuts back on Continuing Disability Reviews (CDRs) for the rest of 2024 to help manage a backlog of claims. They also clarify misinformation about benefit increases and outline the SSA's contingency plans for a potential financial crisis. Looking forward, the speaker anticipates ongoing adjustments to expectations for benefit increases, a greater reliance on AI in claim processing, and a push for education on personal savings. They also address misleading political promises regarding benefits and suggest a possible pathway to naturalization for immigrants to strengthen the workforce and counteract low birth rates that threaten the system's long-term stability. The speaker underscores the urgent need for increased worker contributions to ensure the system remains viable.