US. Social Security’s Finances Erode Further, Risking Benefit Cuts
The Social Security program faces a longstanding financing shortfall that, if left unaddressed, would slash millions of retirees’ crucial monthly benefit payments in just eight years. The deteriorating financial outlook for the retirement program, which supports roughly 61 million Americans, was released in its annual trustees report on Wednesday. It is now expected to run out of money nine months earlier than previously projected, which means benefits could be reduced by 23 percent if Congress does not act to bolster...
