The Social Security Benefit Cliff Is Here

“A sudden cut to Social Security checks — long seen as a far-off doomsday — is now an imminent problem for the next president and whomever voters send to Congress in the coming years,” Politico reports.

”The trust fund that bankrolls monthly checks to retirees is set to be drained of reserves in late 2032. That means tens of millions of Americans age 62 and older, as well as children and widowed spouses who get survivor benefits following the death of a family member, would see their monthly payments shrink by more than 20 percent — or an average of about $500 a month — unless Congress and the president act.”