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Here's How Big Social Security Cuts Could Be Without Reforms
Analysis September 05, 2024 at 03:01 PM
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What You Need To Know
- The Social Security program faces a long-term funding shortfall that could result in big benefit cuts for the typical retiree.
- A new report pins the average cut for a married couple at some $16,500.
- While retirees will experience a 21% across-the-board cut to their benefits in 2033 if Congress doesn't act, this percentage will grow over time.
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