Source: Independent Institute
by Craig Eyermann
“Since 2009, Social Security has been running in the red, paying out more in benefits than it collects in payroll taxes imposed on both employees and employers. They have been making up the difference by drawing down the program’s Old Age and Survivors Insurance (OASI) Trust Fund. But as they’ve just indicated, under current law, they expect to only be able to do that until sometime in the fourth quarter of 2032, which is just over eight years from now. When that money runs out, everyone receiving Social Security benefits will see them reduced by 22%.” (06/18/26)
https://www.independent.org/article/2026/06/18/outlook-social-security-gets-worse/