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Summary of Here's how much your Social Security benefits could fall without a fix

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Here's how much your Social Security benefits could fall without a fix


Social Security's trust fund could run out of money as soon as 2033, resulting in a $16,500 annual benefits cut, experts warn.

https://www.cbsnews.com/news/social-security-benefits-cut-insolvency-kamala-harris-donald-trump/

Social Security is edging closer to a financial cliff that could eventually lead to sharp benefit cuts for 70 million Americans, with a typical couple facing an annual payment reduction of $16,500 in 2033, according to a recent analysis from the Committee for a Responsible Federal Budget. A middle-income single worker would see their benefits cut by $8,200 per year, according to the group.