Ex-Social Security administrator calls for raising cap

Ex-Social Security administrator calls for raising cap

Former Social Security Administration Commissioner Martin O’Malley argued that requiring higher-income Americans to pay more into Social Security is the solution to the program’s looming funding shortfall after a new report warned that beneficiaries could see a 22 percent cut in their monthly checks in 2032.

Claiming Social Security Before 2032? Here's What You Should Know About Its Future.

Key PointsSocial Security's trust funds are expected to be depleted in 2032.A 22% benefit cut would occur if the government doesn't intervene, though it likely will.Save as much as you can right now so you're less reliant on Social Security in the future.The $23,760 Social Security bonus most retirees completely overlook › Retirement planning is full of question marks. You don't know how long you'll live, how much you'll spend annually, or how y…

SSA Trustees Report Calls on Congress to Fix Social Security and Medicare - Herb Weiss

by Herb Weiss, contributing writer on aging issues Congress faces the urgent legislative task of ensuring the long-term viability of the nation’s Social Security program. As in previous years, the Social Security Board of Trustees’ 2026 report warns that without congressional action, the OASI and DI Trust Funds will pay full benefits only through 2034. Afterward, payroll tax revenue will cover about 83% of scheduled benefits, highlighting the ne…

Social Insecurity, Surprise Edition

Social Insecurity, Surprise Edition We all know that Social Security as it is currently constructed will run out of money in the early 2030s. Social Security's cost has exceeded its non-interest income since 2010. John Mauldin Sun, 06/21/2026