Your Social Security Benefits Could Be In Grave Danger

If the payroll tax deferral becomes permanent next year, as the President indicates he wants to do, the trust fund that pays out Social Security benefits could run out in three years without other funds to cover the shortfall, according to a new analysis.

The fund that provides disability benefits would deplete even sooner — by the second half of next year, according to the chief actuary of the Social Security Administration.

Currently, the Social Security funds are estimated to run out in 2034, while the disability fund is expected to remain solvent until 2065, according to the 2020 OASDI Trustees Report.