The article discusses projections that Social Security will run out of funds by 2035, primarily due to declining birth rates rather than aging populations. An analysis by the Office of Chief Actuary suggests that approximately 81 million people could see a drop in benefits, including retirees, disabled individuals, and certain family members. Additionally, poverty rates among beneficiaries may dramatically increase if the trust fund depletes, with estimates indicating a rise by over 50%. Various organizations provide differing projections about the level of payouts, which may decrease to about 79-83% of current levels if no action is taken.
Social Security is projected to face funding shortfalls by 2035, primarily due to demographic changes and declining birth rates, impacting benefits for millions.
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