Social Security Report

Why the Real Social Security Crisis Will Start in 2020

Social Security has a substantial funding gap. According to its trustees’ best projections. its Disability Insurance Trust Fund will run out of money next year. Its Old-Age and Survivors Trust Fund will empty in 2034. If those two trust funds are considered together, they would be empty by 2033. If nothing is done legislatively to fix the funding gaps, benefits will be cut to a level that can be covered by the program’s tax revenue, with total benefits dropping in the neighborhood of 23%.  Those years are crucial to recipients depending on Social Security. But a different year will likely mark the true start of the Social Security funding crisis: 2020…Read More

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