US Social Security Faces Imminent Insolvency; CBO Warns of Depletion in Six Years
The US Social Security Old-Age and Survivors Insurance (OASI) Trust Fund is projected to be depleted within six years, according to the Congressional Budget Office. This would result in a potential 28% average benefit cut for retirees by 2036 if no action is taken.
Topics: CBO report fiscal policy retirement age Social Security