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...
New York writer E. Jean Carroll is finally getting paid more than three years after a...
Donald Trump has approved a sharp reduction in the size of two national monuments in Utah...
