I continually remind my readers that they shouldn’t worry too much when they read or hear reports of Social Security’s imminent collapse. Once Congress works up the nerve to deal with the issue (and once the American people accept the fact that the program needs reform), they will get around to passing amendments to the Social Security laws that will keep the program solvent for generations to come. And this will really be nothing new.
Almost every year since the Social Security Act was passed in 1935, there have been amendments to that original law. Many years, they are simply minor technical adjustments. But some years, they include major changes to the program. Here is a brief summary of how the Social Security program has evolved over the years….