BIG NUMBER
29. That’s in how many states retirement benefit recipients would see monthly benefit cuts higher than $500 if the trust fund runs out. The average monthly retirement benefit for 2026 was projected by the Social Security Administration as $2,071.
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CRUCIAL QUOTE
“This should be a wake-up call: Congress needs to act,” AARP CEO Myechia Minter-Jordan said in a statement. “Americans have worked hard and paid into Social Security their entire lives, and they deserve to count on it when they retire. No family should see any cuts to what they’ve earned in Social Security.”
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Key background
The Social Security trust funds are being depleted because the program is paying out more in benefits than it collects in payroll taxes. The program has generally been running a cash-flow deficit for years and the mass retirement of the baby boomer generation (which has been peaking since 2024 and is expected to continue through next year) has caused benefit obligations to outpace revenue. The most recent insolvency prediction comes after President Donald Trump passed his sweeping domestic agenda package, called the One Big Beautiful Bill Act, which lowered income tax rates and introduced a new deduction for senior citizens. The new laws mean less taxes paid on Social Security benefits, which in turn leads to less money rolling back into the Social Security and Medicare trust funds.
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further reading
ForbesThe Coming Social Security Crisis And The Fight To Save ItBy Mike PattonForbesMore Americans Plan To Claim Social Security Benefits EarlyBy Bob Carlson