Here’s how to fix the looming Social Security shortfall
Once it has exhausted the Social Security Trust Fund in six years, the government will only be able to pay out 78% of promised benefits. But there are a number of potential solutions to make up the difference.
The Social Security Board of Trustees announced earlier this year that everyone’s favorite government program can pay 100% of scheduled benefits until the fourth quarter of 2032. After that, the Social Security Trust Fund will be depleted, and we will only have enough money to pay a little over three-quarters of promised benefits.
