A 22% Social Security Benefit Cut Could Happen in Just 6 Years, and That's Just the Tip of the Iceberg
There could be more than one Social Security benefit cut on the way.
Overview
Workers and Social Security beneficiaries got some scary news this week, courtesy of the latest Social Security Trustees' Report. While we've known for a while that the program's trust funds were running low, the latest report revealed that the insolvency deadline is closer than previously estimated.
The biggest stat from the report is that Social Security beneficiaries could face a 22% cut in 2032 if the government doesn't intervene. However, that actually undersells the scope of the problem.
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Details
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Originally published at www.fool.com.
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