Social Security retirement funds could run dry by 2032

Congress received another grim reminder on the state of Social Security’s long-term finances with a shorter timeframe to find solutions to shore up the program or risk benefit cuts for millions of Americans in just six years. The stakes are massive for a generation of Americans nearing retirement and millions more to come in the coming decades that would be hit with an automatic 22% Social Security benefit cut if Congress fails to act. Also daunting is the work that will be needed to plug the holes in the budget that will likely take form in tax increases or reducing promised payments, politically painful solutions that will be a challenging lift in a divided Washington. READ MORE: https://fox17.com/news/nation-world/c... _______________ Follow! Like! Share! Subscribe! WZTV on Facebook:   / foxnashville   WZTV on X:   / foxnashville   https://fox17.com Email us: [email protected] Call the Newsroom: 615.369.1717 Fox 17 provides local news, weather, sports, traffic and entertainment for Nashville and nearby towns and communities in Middle Tennessee, including Forest Hills, Brentwood, Franklin, Fairview, Dickson, Clarksville, White House, Greenbrier, Springfield, Gallatin, Hartsville, Lebanon, Mt Juliet, Smyrna, College Grove, Thompson’s Station, Centerville, Murfreesboro, Columbia, Lewisburg, Shelbyville, Manchester, McMinnville, Smithville, Sparta, Cookeville, Hohenwald, Waverly, Camden, Paris, Lafayette, Portland, and in Kentucky, Russelville, Bowling Green, Franklin, Alvaton, Scottsville, Hopkinsville, Glasgow. #WZTV #fox17news #foxnashville #nashville #tennessee #tn #middletn #localnews #breakingnews #trending