Social Security benefit cuts could average $500 a month for retirees if trust fund runs dry

Committee for a Responsible Federal Budget: “Social Security’s retirement program provides benefits for 63 million Americans, including retirees, spouses, and dependents. Yet we have known for 42 years that, without changes, Social Security would become insolvent. And for the last 16 years, the cost of Social Security’s retirement program has exceeded its cash income, forcing ...