Social Security Retirees Just Got Bad News
Although Congress has yet to act, it is well known that Social Security's rainy-day funds will soon run dry, and revenue from Social Security's payroll taxes will not be enough to cover projected future benefits.Each year, the board of trustees of the Federal Old-Age and Survivors Insurance (OASI) Trust Fund and the Federal Disability Insurance (DI) Trust Fund releases annual reports, updating the country on the financial situation of the trust funds and the Social Security program as a whole. While the message over the years has been fairly consistent, the 2025 annual report just gave Social Security retirees bad news.Social Security has begun to encounter financial challenges due to shifting demographics. More baby boomers are reaching retirement, and there are fewer young workers than there once were to pay taxes into the system. According to the Population Reference Bureau (PRB), the population of Americans age 65 and older is expected to jump from 58 million in 2022 to 82 million in 2050. Their proportion of the population is projected to increase by 6% to 23%.Continue reading
Although Congress has yet to act, it is well known that Social Security's rainy-day funds will soon run dry, and revenue from Social Security's payroll taxes will not be enough to cover projected future benefits.
Each year, the board of trustees of the Federal Old-Age and Survivors Insurance (OASI) Trust Fund and the Federal Disability Insurance (DI) Trust Fund releases annual reports, updating the country on the financial situation of the trust funds and the Social Security program as a whole. While the message over the years has been fairly consistent, the 2025 annual report just gave Social Security retirees bad news.
Social Security has begun to encounter financial challenges due to shifting demographics. More baby boomers are reaching retirement, and there are fewer young workers than there once were to pay taxes into the system. According to the Population Reference Bureau (PRB), the population of Americans age 65 and older is expected to jump from 58 million in 2022 to 82 million in 2050. Their proportion of the population is projected to increase by 6% to 23%.
