AUG 14, 2025 SOCIAL SECURITY

Social Security turns 90 today – but its retirement program is on course to be insolvent by age 97 – according to new estimates from the program’s Chief Actuary. Even if combined with the disability trust fund, Social Security will deplete its reserves before it turns 100.

In this piece, we show:

Social Security's retirement trust fund will be insolvent in just seven years – by late 2032 – at which point benefits will be cut automatically by 24 percent across the board if nothing is done to prevent it.

A typical couple retiring just after insolvency will face an $18,400 cut in annual benefits.

Recent legislation – particularly the One Big Beautiful Bill Act but also the Social Security Fairness Act – has accelerated insolvency alongside well-known demographic challenges.

Trust fund solutions are needed soon to prevent insolvency and the statutorily required benefit cut.

Social Security is Seven Years from Insolvency

Social Security is the nation’s largest federal program and largest retirement program. It helps to support 68 million seniors, dependents, survivors, and disabled workers and insures an additional 183 million workers against the risks of aging, disability, and death of a spouse or parent.

Unfortunately, Social Security is in financial trouble. According to new estimates from the program’s Chief Actuary, Social Security’s retirement trust fund is just seven years from insolvency. That’s when today’s 60-year-olds reach their normal retirement age and when today’s youngest retirees turn 69. The insolvency date was accelerated by the reconciliation law’s effect on taxation of benefits, moving from early 2033 as projected in the June 2025 Trustees’ report to late 2032.

On a theoretically combined basis, Social Security’s retirement and disability trust funds are projected to run out just two years later in 2034. That’s just nine years from today, when today’s 58-year-olds reach the normal retirement age and today’s youngest retirees turn 71.

Beneficiaries Face a Deep Cut Without Congressional Action

Under the law, the Social Security program cannot pay out more in benefits than it has collected in revenue (plus accrued interest). As a result, all current and new retired beneficiaries, regardless of age or income, will face an across-the-board 24 percent benefit cut when the retirement trust fund is depleted in 2032.

Based on the latest Chief Actuary projections, we estimate a typical couple retiring shortly after the trust fund runs out will face an $18,400 benefit cut.

Depending on a couple’s age, marital status, and work history, the actual size of the benefit cut would vary. For example, a typical single-earner couple would face a $13,800 cut, while a dual-earner low-income couple would face an $11,200 annual cut. High-income couples could see a cut closer to $24,400. While the absolute size of the cut would be smaller for a low-income beneficiaries than high-income beneficiaries, it would represent a larger share of their income and their past earnings.

https://www.crfb.org/blogs/social-security-turns-90-its-racing-towards-insolvency

(http://www.autoadmit.com/thread.php?thread_id=5784969&forum_id=2Ã#49338799)

So they’ve done a lot to extend it but they were within 5-10 years.

(http://www.autoadmit.com/thread.php?thread_id=5784969&forum_id=2Ã#49339022)

Lmao Gen X

(http://www.autoadmit.com/thread.php?thread_id=5784969&forum_id=2Ã#49338836)

People should just work until they die like they did in the old days. There is no dignity in sitting around in a facility that smells like bleach and urine all day because you're still alive but can no longer do anything for yourself.

(http://www.autoadmit.com/thread.php?thread_id=5784969&forum_id=2Ã#49338878)

Also lol at voluntarily paying more money into social security, the second they don’t have to worry about running out of money they will just increase benefits for boomers and bankrupt it again.

Like the last thing “Biden” did as president is sign this BIPARTISAN boomer bailout for 200 billion

https://www.ntu.org/foundation/detail/the-social-security-fairness-acts-true-cost-to-taxpayers

(http://www.autoadmit.com/thread.php?thread_id=5784969&forum_id=2Ã#49339097)

lol wow

(http://www.autoadmit.com/thread.php?thread_id=5784969&forum_id=2Ã#49339104)