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Will there be social unrest when monthly social security checks are cut by 22% in 2032?
Posted on 6/10/26 at 11:30 am
Posted on 6/10/26 at 11:30 am
Latest projection just out keeps the projected date at 2032 for when the trust fund runs out
Are we just not going to address this?
quote:
Tens of millions of retirees and other Americans could see smaller monthly Social Security checks in six years if lawmakers don’t act to shore up the program’s finances, according to an annual report released Tuesday by Social Security’s trustees.
Social Security’s retirement trust fund — which helps support payments to senior citizens, their dependents and survivors of deceased workers — is expected to be exhausted in late 2032, which is one quarter earlier than previously forecast, according to the trustees. At that time, payroll tax revenue and other income sources will be able to cover only 78% of benefits owed.
That means the next president could be faced with having to address Social Security’s shaky finances, which have long been considered a third rail in American politics. The issue could play a more prominent role in the 2028 presidential campaign if the projected expected insolvency date remains only a few years away.
Are we just not going to address this?
66
Posted on 6/10/26 at 11:31 am to HailHailtoMichigan!
Boomers will just have to cut back on their avocado toast and daily coffee. Tough it out.
Posted on 6/10/26 at 11:32 am to HailHailtoMichigan!
quote:
the trust fund
This has been largely a mythical accounting trick since basically forever, you realize?
Posted on 6/10/26 at 11:32 am to HailHailtoMichigan!
At this point if you're counting on social security as your sole source of income in retirement you're likely screwed.
I'm planning for it to not even be solvent by the time I can draw from it.
I'm planning for it to not even be solvent by the time I can draw from it.
Posted on 6/10/26 at 11:35 am to HailHailtoMichigan!
Maybe someone should look into how many foreigners are getting SS payments. Many without having paid the first cent in.
Posted on 6/10/26 at 11:37 am to SloaneRanger
quote:
Maybe someone should look into how many foreigners are getting SS payments. Many without having paid the first cent in.
hey. let's not be racist, mmmmkay?
Posted on 6/10/26 at 11:38 am to Ingeniero
quote:
Boomers will just have to cut back on their avocado toast and daily coffee. Tough it out.
If they want to survive they can pull themselves up by their bootstraps
Posted on 6/10/26 at 11:38 am to HailHailtoMichigan!
I'll bet you anything that it won't happen
Posted on 6/10/26 at 11:39 am to SloaneRanger
The lengths you people go to blame “fraud” and “foreigners” for social security mess lol
We have known since the 90s that social security was going to deplete in the 2030s
W. Bush tried to fix it and Morons killed the bill. If that bill became law, we’d be in great financial shape.
We have known since the 90s that social security was going to deplete in the 2030s
W. Bush tried to fix it and Morons killed the bill. If that bill became law, we’d be in great financial shape.
Posted on 6/10/26 at 11:40 am to HailHailtoMichigan!
They will just print money.
SS cuts will happen when the entire country collapses.
Until then, printers go burr......
SS cuts will happen when the entire country collapses.
Until then, printers go burr......
Posted on 6/10/26 at 11:41 am to HailHailtoMichigan!
someone correct me if i am wrong, but the way they wrote the law allows them to take out money that would be extra for that year and essentially write the account an IOU right? So if they have 3 billion in the account and need 1 billion they leave 1 billion take the 2 billion out and essentially say we owe you later.
it should never have gotten to this point
it should never have gotten to this point
This post was edited on 6/10/26 at 11:41 am
Posted on 6/10/26 at 11:41 am to Ingeniero
It is a shame. I was going to donate most of my future SS funds to a needy millennial so they could keep going to Starbucks.
Posted on 6/10/26 at 11:43 am to HailHailtoMichigan!
quote:
Will there be social unrest when monthly social security checks are cut by 22% in 2032?
No….because it is not going to be cut by 22% in 2032. We have heard all our lives that the SS program was bankrupt and there would be no program in the future…..yet here we are.
I have decided that these warnings are nothing but political scare tactics. Every politician’s underlying campaign message is: “I’m the only one that can save you”
Posted on 6/10/26 at 11:46 am to Spankum
quote:
No….because it is not going to be cut by 22% in 2032. We have heard all our lives that the SS program was bankrupt and there would be no program in the future…..yet here we are.
The 2030s has always been the projected decade for insolvency.
Even in the 90s, the estimators were projecting 2033, etc
Posted on 6/10/26 at 11:49 am to Snipe
quote:
At this point if you're counting on social security as your sole source of income in retirement you're likely screwed.
Who said anything about anyone ‘counting on social security as your sole source of income in retirement’ ? I didnt see anything about that.. Why would you assume something weird like that ? Maybe English isnt your first language .
As a Gen X guy, all i want is to receive the benefit (NOT entitlement) for a program ive been paying onto since my first job at 14 years old in the late 1900s.. and yeah, since ill be retiring overseas i *could* live solely off SS with plenty left over.. but no one i know , including myself, plans to only rely on SS .
Posted on 6/10/26 at 11:49 am to HailHailtoMichigan!
Social security is a Ponzi scheme that we would be promptly jailed for running.
Posted on 6/10/26 at 11:51 am to HailHailtoMichigan!
Why are we never in danger of running out of welfare money?
Posted on 6/10/26 at 11:51 am to HailHailtoMichigan!
Democrats dont want to hear that peak Boomers elected a President who tried to kill a Democrat program started by Democrats and then Democrats blocked the killing of it so Democrats could continue to whine about Boomers receiving SSI.
Truth hurts feelings.
Truth hurts feelings.
Posted on 6/10/26 at 11:52 am to HailHailtoMichigan!
I have never factored social security into my retirement plan. Whatever is left when I can draw it will be lagniappe.
Posted on 6/10/26 at 11:53 am to HailHailtoMichigan!
quote:
smaller monthly Social Security checks in six years if lawmakers don’t act
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