Social Security’s reality check—with a side of wishful thinking

Social Security's trust fund is projected to be depleted by 2034, according to the program's trustees. At that point, incoming payroll taxes would cover approximately 80 percent of scheduled benefits. The ratio of workers to beneficiaries has declined from 16-to-1 in 1950 to 2.9-to-1 in 2023, according to the Social Security Administration. Congress has not passed legislation to address the funding gap since 1983.

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