Committee for a Responsible Federal Budget (CFFB) – not good news for baby boomers!: “The Social Security Trust Funds are projected to become insolvent in 2035, according to the program’s trustees. At that point, revenues coming into the program will be insufficient to cover scheduled benefits, causing all beneficiaries to suffer a 20 percent benefit cut, regardless of their age, income level, or how much they depend on the program. That cut would generally grow over time, until someone born this year would have a 25 percent cut in their lifetime benefits.”
- Use this link for the CRFB tool – and just enter your year of birth