Social Security cuts could drop retiree checks by $500 a month by 2032
Social Security payments to U.S. retirees could drop by an average $500 a month if Congress doesn’t act before the program’s trust fund is depleted in 2032, according to the Committee for a Responsible Federal Budget on Wednesday. The Washington watchdog group said benefits would be cut 24% nationwide, with average monthly losses topping $500 in 29 states, from $459 in Mississippi to $556 in Connecticut.
