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The Timeline to Sweeping Social Security Benefits Cuts Is Likely Being Accelerated by 3 of President Donald Trump's Policies

Fiscal Policy & BudgetEconomic Data

Social Security’s Old-Age and Survivors Insurance trust fund is projected to exhaust its reserves by Q4 2032, the program’s asset buffer turning negative under current financing assumptions. This raises medium-term fiscal pressure and beneficiary-payment risk, likely weighing on expectations for future U.S. entitlement policy.

Analysis

Social Security’s Old-Age and Survivors Insurance trust fund is projected to exhaust its reserves by Q4 2032, the program’s asset buffer turning negative under current financing assumptions. This raises medium-term fiscal pressure and beneficiary-payment risk, likely weighing on expectations for future U.S. entitlement policy.

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