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Social Security won’t be able to pay full benefits by 2035 if Congress doesn’t act

June 4, 2022

From the CNN website

If Congress doesn’t act soon, tens of millions of Americans will only receive about three-quarters of their Social Security benefits when they retire. 

Social Security’s trust funds will be tapped out by 2035, according to an annual report released Monday by trustees of the government’s two largest entitlement programs, the other being Medicare. That’s one year later than last year’s report projected. 

The new projection doesn’t mean retirees will no longer get checks in 16 years. But the program will at that point only have enough revenue coming in to pay three-quarters of promised benefits through the end of 2093.

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