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Social Security: When does it run out?

Social Security: When does it run out? What the program will look like in the future

Take a look at all the policy options when Social Security runs out

To all Americans, there is no way of knowing what the future of Social Security holds and it is pushing a lot of them to ask many pressing questions about it.

An annual report from the Social Security board of trustees determined that Social Security cash reserves will be completely drained by 2034.

This is one year before a report from 2020 stated it would run out. After that, taxes are expected to cover only about 78% of the benefits each year.

This has slowly become a complicated situation for all Americans, but we all need answers about what is happening. There are some indication to why this is taking place.

Longer life expectancies are mainly part of the issue here, there is also a smaller working age population and the increase in the number of retirees.

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