Americans could see 22% cut in social security benefits in six years, new report warns Congress [vG1Hq15PWqU]
Social Security retirement funds could be depleted by 2032, according to a new report by the Social Security Administration. The report warns that unless Congress takes action, it will only be able to pay 78% of the current level of benefits. There have been concerns over the long-term solvency of Social Security before. But experts who study economic and retirement policy say the systemic threats to the program may be more severe in the near future than they have been in the past.