Terry Savage: Insolvency looms for Social Security. What will we do?

The latest Trustees report indicates that the main Social Security trust fund is depleting faster than anticipated, with insolvency now projected for 2032. This timeline is one year earlier than previous estimates. The report suggests that if necessary funding cuts are distributed evenly across the system, Social Security checks will be impacted, raising urgent questions regarding the future stability of the program and the measures required to address the looming financial shortfall.