Social Security faces a 24% cut in 2032—that’s a $345 billion hit to retirees nationwide, watchdog says
Social Security is barreling toward a 24% across-the-board benefit cut in 2032 that would slash roughly $500 a month from the average retiree’s check — a hit that totals about $345 billion a year nationwide, according to a first-of-its-kind report from the Committee for a Responsible Federal Budget, a Washington …