Do you think Social Security will be there for you when you retire?

FROM CNN's Jack Cafferty:

If you're planning to rely on Social Security in retirement, you may want to think again.
The Social Security Administration has already warned that the trust fund will likely run out of money in 2036. That's only 24 years away.
But now there's reason to believe it could run out of money even sooner.
The Congressional Budget Office says by 2020, the combined Social Security old age and disability trust funds will be $800 billion smaller than what the Social Security Administration projected last year.
AOL's Daily Finance suggests when the next SSA Trustees Report comes out, its own projections will probably be revised downward too.
In fact, that's been the trend over the past five years, with Social Security moving up its estimated "run-dry" date from 2041 to 2036.
When the trust fund runs out of money, it's expected benefits will fall by about 25%.
So if you still have time to put away additional money for your own retirement - not an easy thing to do in this economy - you should save up.
More than 54 million Americans collect Social Security for retirement, disability or survivor benefits. The average check for a retiree is about $1,200 per month.
Meanwhile Treasury Secretary Timothy Geithner says the White House and congressional Republicans discussed ways to shore up Social Security last year as part of the debt ceiling talks.
But, big surprise - they couldn't reach a deal.
Lawmakers would either need to cut benefits, raise taxes, or a combination of the two. Won't happen - at least not now.
Here’s my question to you: Do you think Social Security will be there for you when you retire?
Tune in to the Situation Room at 5pm to see if Jack reads your answer on air.
And, we love to know where you’re writing from, so please include your city and state with your comment.


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