The trust fund that has paid Americans Social Security checks for 16 years is on the brink of expiring, leaving millions of Americans without their vital monthly payments. Social Security checks provide benefit payments for 63 million Americans, including retirees, spouses and dependents, but the trust fund that bankrolls the funds will be depleted by late 2032, setting up a massive headache for the next presidential administration. 'This train wreck is going to happen,' Representative Steve Womack told Politico. Even though Americans pay into Social Security through payroll taxes, the program costs more than the fund receives, so the federal government has been forced to dip into a separate trust to send benefits. 📷 Getty Images / Adobe Stock #socialsecurity #news #tax #money #finance
Suggested Credits
Tags, Events, and Projects