01-07-2025
- Business
- Wall Street Journal
The Social Security Crisis Is Coming
Today's political din makes it difficult for genuine warning calls to break through, but the Social Security system's trustees in late June sent a signal so alarming that America can't ignore it: Unless lawmakers do something, the system's trust fund will be exhausted in the first quarter of 2033—sooner than earlier reports predicted. This crisis will trigger large cuts in benefits to current and new beneficiaries.
To preserve Social Security, Congress will need to address the coming insolvency crisis no later than the next president's first term.
