Social Security trust fund now projected to run dry in 2034, triggering massive benefit cuts

The trustees for Social Security and Medicare released their annual report on the status of the entitlement programs' trust funds, which are expected to be depleted sooner than previously thought.

The Social Security and Medicare trustees "found that the Social Security and Medicare programs both continue to face significant financing issues."

Trustees found that if Social Security's Old-Age and Survivors Insurance (OASI) and Disability Insurance (DI) trust funds were combined, the...