Without action, Social Security benefits are scheduled for reduction in less than 10 years

Without action, Social Security benefits are scheduled for reduction in less than 10 years

OASI Trust Fund (% of GDP)

Revenues

Scheduled

Benefits

Payable

Benefits

Payable benefits face an automatic cut

Payable benefits face an automatic cut

Source: Social Security AdministrationEmbed Download image

Note: Once the Old-Age and Survivor’s Insurance Trust Fund is depleted, which the Trustees project will occur in 2033, payable benefits would automatically be set equal to incoming revenues, resulting in a 21 percent cut.