Social Security program facing solvency issues, possible benefit cuts, but government may intervene

From Nasdaq: 2025-06-29 18:00:00

The latest Social Security Trustees Report raises concerns about the program’s solvency, affecting seniors who rely on benefits. The trust funds are projected to run out sooner than expected, with estimates indicating depletion by 2034. Benefit cuts are a possibility, but changes to increase revenue or taxes may prevent major reductions. While a 20% cut is concerning, it’s unlikely to happen. The government is aware of the issue and may implement adjustments to sustain the program. Seniors should stay informed and prepare for potential changes to their retirement income.



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