Social Security Checks Shrink 22% in 2032 Unless Congress Acts

Social Security could start running out of money in 6 years. Would Cooper, Whatley try to save it?

Retirees and others on Social Security will see their benefits cut by more than 20% if the program becomes insolvent, which is on pace to happen by 2032. Members of Congress, including North Carolina’s newest U.S. Senator, will face pressure to address that.

Social Security Checks Shrink 22% in 2032 Unless Congress Acts

Social Security's trust fund has a ticking clock, and the window for Congress to prevent a sweeping benefit cut is closing faster than most retirees realize. Here is what the latest projections reveal and what you can do right now to protect your finances.

Retirees Just Got Handed a Stark Warning: Social Security Benefits Could Be Cut by About a Fifth When the Trust Fund Runs Dry

Social Security is paying out more than it collects, and its main retirement trust fund is projected to run dry in less than a decade. If Congress does nothing, incoming payroll taxes would cover only about three-quarters of scheduled benefits, forcing automatic cuts. Fixes like higher taxes or a later retirement age all carry political pain.