Social Security is facing financial challenges, with the trust fund expected to run out by 2035, which would mean significant cuts in benefits for seniors. While the program has historically prevented poverty among the elderly, proposals to remedy the financial shortfall often target high earners, suggesting they may see reduced benefits. This raises concerns as seniors rely heavily on these funds, and reforms are necessary to avoid drastic cuts amid rising deficits and Medicare costs.
Social Security is a universally popular benefits program that has kept millions of seniors out of poverty. It is also in financial trouble.
The program's trust fund will be depleted in 2035, necessitating an across-the-board cut to the benefits being paid.
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