Social Security trustees predict benefit cuts in 2033 without congressional action

Without action to stabilize the Old-Age and Survivors Insurance Trust Fund, Social Security would have enough money to pay about 77% of total scheduled benefits

By: - March 31, 2023 4:06 pm
USA social security card with medicare and US dollars to illustrate budget crisis

Social Security will no longer be able to pay full benefits in 2033, a year earlier than previously expected, according to a report released March 31, 2023. A separate report for Medicare shows that its Hospital Insurance Trust Fund can continue paying full benefits through 2031, three years longer than previously expected. The fund would then have enough money to pay about 89% of expected benefits. (Getty Images)

Our stories may be republished online or in print under Creative Commons license CC BY-NC-ND 4.0. We ask that you edit only for style or to shorten, provide proper attribution and link to our web site. Please see our republishing guidelines for use of photos and graphics.

Jennifer Shutt
Jennifer Shutt

Jennifer covers the nation’s capital as a senior reporter for States Newsroom. Her coverage areas include congressional policy, politics and legal challenges with a focus on health care, unemployment, housing and aid to families.