Security Social Funds Projected to Run Out by 2035, Urgent Action Needed
Washington, DC – The annual report released by Social Security and the Medicare Board of Trustees revealed that full Social Security benefits are expected to be depleted by 2035. This projection marks a slight improvement from last year’s estimate, which predicted the reserves to run dry by 2034. Commissioner of Social Security Martin O’Malley acknowledged the report as “a measure of good news” for the millions of Americans who rely on the program. O’Malley attributed …