The latest Social Security trustees report projects that in 2032, the program will be unable to pay full old-age benefits, resulting in a 22% benefit cut if no action is taken.

The combined Social Security trust funds for old age, survivors, and disability are projected to run short of funds in 2034.

The U.S. federal government currently spends about 23% of GDP while collecting 15% to 17% of GDP in revenue.

The combined Social Security trust funds for old age, survivors, and disability are projected to be unable to pay full benefits starting in 2034.

According to the latest Social Security trustees report, the program's old-age benefits fund will be unable to pay full benefits starting in 2032, resulting in an automatic 22% benefit cut if no legis...