Funding Shortfall – Social Security’s trust fund is projected to deplete by the mid-2030s, potentially leading to reduced benefits unless action is taken soon.
Rising Beneficiaries – With more Baby Boomers retiring, the number of Social Security beneficiaries is increasing, placing further strain on the system's finances.
Sustainability Concerns – Experts warn that without reforms, Social Security could face significant cuts, affecting millions of retirees and disabled individuals who depend on it.
Political Stalemate – Despite growing concerns, there’s a lack of bipartisan agreement on how to address Social Security’s financial gap, making timely solutions difficult.
Impact on Seniors – If no action is taken, future retirees may see their benefits reduced by up to 20-25%, leaving them vulnerable to financial insecurity.
Reform Urgency – Social Security advocates stress that urgent reforms, like raising the payroll tax or adjusting the retirement age, are needed to avoid drastic cuts.