Social Security Crisis Looms | Business and Finance News

Social Security is on a collision course with insolvency—unless Congress acts, retirees in six years could face 22% benefit cuts, dropping annual payouts to just $16,900, with cuts potentially soaring to 35% by century’s end. Medicare Part A’s fund is also set to collapse by mid-2033, forcing hospitals to be paid only 89 cents on the dollar. A bipartisan Senate plan proposes a 50-year solvency roadmap, but political gridlock looms as proposals range from tax hikes to raising the retirement age—any fix will be tough for voters to swallow. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/9a1702055ccda708