The Economic Times

Why the Social Security crisis may leave American retirees worse off than in developing nations

Social Security crisis: American retirees face a concerning future. Their Social Security benefits may soon fall behind those in many other nations. This is due to rising living expenses and projected cuts to Social Security by 2034. Decades of budget deficits have worsened the situation. Retirees in countries like Ecuador and Colombia could soon have greater purchasing power than Americans.