The Social Security trustees released their annual report Friday, noting significant deterioration in Social Security’s financial well-being. Here’s what Americans need to know.| The Heritage Foundation
In just nine years, the oldest Gen-Xers will reach Social Security’s normal retirement age of 67. But they have a rude awakening when they learn that the program’s trust fund is empty, leaving it able to pay out only as much in benefits as it takes from the paychecks of those then working. That’s straight from the Social Security trustees 2024 report. It also notes that without congressional action, benefits will have to be cut by 21 percent across the board—including for those alread...| The Heritage Foundation
The Social Security Disability Insurance (SSDI) program is functionally and financially broken. With average wait times approaching 600 days, too many individuals die while awaiting their benefits. As the system denies benefits for some individuals with rather apparent disabilities, almost half of all benefit awards stem from non-medical factors, such as age, education, and work experience. Furthermore, despite the program’s intent to provide benefits only while workers are disabled, the SS...| The Heritage Foundation
