Summary
Marjorie Taylor Greene, a former U.S. representative from Georgia, warned that Social Security could run out of money by 2033. Her comments follow a government report predicting the fund may face financial issues sooner than expected, affecting payments to millions of Americans.
Key Facts
- Marjorie Taylor Greene warned that the Social Security trust funds might be depleted by 2033.
- The Congressional Budget Office (CBO) predicts the trust fund running out a year earlier, in 2032.
- If Social Security funds run out, benefits to recipients would be cut, possibly by 28% by 2036.
- Social Security is a primary income source for over 70 million Americans.
- The program is funded mainly by payroll taxes on workers and employers.
- Some lawmakers propose changes, like taxing higher incomes more or allowing investments to extend fund life.
- The CBO warns that reduced payments could slow economic growth and affect employment.
