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U.S. Confidence in Social Security Falls to 36% as Funds Near 2034 Shortfall

Projected cuts to 81% of scheduled benefits after 2034 are driving urgent calls for congressional reform

People rally as part of a nationwide "Hands off Social Security!" protest outside the U.S. Social Security Administration in Brooklyn, New York City, U.S., April 15, 2025.
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Overview

  • Only 36% of Americans now say they trust Social Security’s future, down from 43% in 2020, with just 25% of adults under 50 expecting full benefits
  • The Social Security Trustees report shows combined trust funds will be depleted by 2034 and the Old-Age and Survivors Insurance fund by 2033, triggering benefit payments at about 81% of scheduled levels
  • A majority of older Americans (58%) fear benefit reductions after recent reports on program changes, and confidence among Republicans (44%) exceeds that of Democrats (32%)
  • Staff cuts, rule changes, website outages and leadership shuffles under President Trump’s administration and Elon Musk’s efficiency review prompted a rare public rebuke from AARP
  • Policy experts and advocacy groups are urging Congress to lift the payroll tax cap, raise the retirement age or tap new revenue streams to avert forthcoming benefit cuts