The article says Social Security is not at risk of going bankrupt, but the continuity of its current payout schedule, including annual cost-of-living adjustments (COLAs), is in doubt. The unfunded 75-year obligation is projected to grow to $29.3 trillion through 2100, and the OASI trust fund's reserves are projected to be depleted by the fourth quarter of 2032, which would trigger an estimated 22% benefit cut. The author blames President Trump's “Big, Beautiful Bill” for reducing the earnings subject to the 12.4% payroll tax, with the Social Security Administration's Office of the Actuary estimating $168.6 billion in added program costs from 2025 through 2034. Tariffs and the Iran war have also kept inflation elevated, producing outsized COLAs that could drain reserves faster than forecast.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Social Security Is in Dire Straits , and President Donald Trump Policies Are Making Things Worse
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