from Your News:

Social Security grapples with $63 trillion in long-term unfunded liabilities, raising concerns about the program’s sustainability and prompting calls for urgent reform.

By yourNEWS Media Newsroom

Social Security is confronting a staggering $63 trillion in long-term unfunded liabilities, according to the 2024 Old Age, Survivors, and Disability Insurance (OASDI) trustees report. The report, which evaluated both an infinite horizon projection and a 75-year outlook, indicated that the shortfall over the infinite horizon amounts to $62.8 trillion, while the 75-year projection showed a deficit of nearly $23 trillion. These findings, outlined in the report, underscore the fiscal challenges facing the nation’s retirement system.