🔁Mario Nawfal:
🚨🇺🇸 BIGGEST DROP EVER IN SOCIAL SECURITY PAYOUTS - CRISIS STILL LOOMS
The U.S. just saw the sharpest monthly plunge in Social Security benefits on record - a staggering $122 billion drop, slashing the payout level after a huge pandemic-era spike.
This comes as the Social Security Trust Funds are now forecast to run dry in 2034, a year earlier than expected, triggering an automatic 19% benefits cut unless Congress steps in.
Blame an aging population, shrinking worker-to-retiree ratios, and deficits ballooning since 2010. Meanwhile, officials insist they’re hunting down fraud and waste, but even that won’t close the $67 billion gap seen just last year.
Millions of retirees are watching nervously, calculators in hand.
Source: IBTimes, SSA data, @DiligentDenizen
https://x.com/MarioNawfal/... https://x.com/MarioNawfal/...
🚨🇺🇸 BIGGEST DROP EVER IN SOCIAL SECURITY PAYOUTS - CRISIS STILL LOOMS
The U.S. just saw the sharpest monthly plunge in Social Security benefits on record - a staggering $122 billion drop, slashing the payout level after a huge pandemic-era spike.
This comes as the Social Security Trust Funds are now forecast to run dry in 2034, a year earlier than expected, triggering an automatic 19% benefits cut unless Congress steps in.
Blame an aging population, shrinking worker-to-retiree ratios, and deficits ballooning since 2010. Meanwhile, officials insist they’re hunting down fraud and waste, but even that won’t close the $67 billion gap seen just last year.
Millions of retirees are watching nervously, calculators in hand.
Source: IBTimes, SSA data, @DiligentDenizen
https://x.com/MarioNawfal/... https://x.com/MarioNawfal/...
7 days ago
