Some Social Security Benefits Projected to Run Out by 2035
There has been a new report revealing that millions of Americans could see their Social Security benefits cut tremendously when they retire. According to a report released by the Trustees of Social Security and Medicare, combined trust funds for the government’s two largest entitlement programs will be tapped out by 2035.
Although the report is no guarantee this will happen, it predicts that there will not be enough money to pay out the full promised benefits. Instead, only about three quarters of it. However, the Trustees say that Congress can enact policies to ensure the viability of both Social Security and Medicare programs.