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Social Security may run out of funds for full payments earlier. Here’s how it impacts benefits.

By Us - CBSNews.com Jun 26, 2025 | 9:20 AM

A new projection shows Social Security is on track to deplete its funds for full payments earlier than previously forecasted. CBS News business analyst Jill Schlesinger breaks down how it could impact beneficiaries and how the problem can potentially be fixed.

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BREAKING THE BUDGET IMPASSE

What should be done to break the impasse in approving Pennsylvania’s budget?

Increase income taxes to pay for more spending.
Draw down the state's rainy day funds to pay for more spending.
Tax the so-called "skill games" machines to pay for more spending.
Legalize recreational marijuana to pay for more spending.
We don't need more spending, we need less! No new taxes!
We do need to increase spending on some programs, but there's plenty of wasteful spending we should cut. No new taxes!
Voting Ends: Oct 7, 2025 | 12:00 PM