Americans who receive Social Security checks could see benefit checks cut by $500 a month on average if the program is allowed to hit its projected “go-broke” date in late 2032, according to a new analysis.
That amount represents the 24% benefit cut that would be necessary to allow Social Security Administration (SSA) payments after the retirement fund is exhausted, according to fiscal policy think tank Committee for a Responsible Federal Budget (CRFB).
“Applying this projected reduction to current state-level data, we estimate an across-the-board monthly cut would range from $459 to $556 across the 50 states and the District of Columbia,” the report says.
More...
A federal judge ordered the removal of President Donald Trump's name from the Kennedy Center for...
Twenty-four years after Sept. 11, 2001, Americans remember the nearly 3,000 lives in the terror attacks...
