On a previous episode, we discussed how Social Security recipients are about to get a 2.5 increase in their benefits starting in the year 2025, which is of course great in the short term.

However, the underlying reality is that the

Social Security program as a whole is quickly approaching the point of

insolvency. In fact, according to this new analysis right here of the current state of the program, within the next nine years.

If nothing changes, the average retired couple will see their benefits get reduced by $16,500.

The benefits will get reduced by this large amount,

while at the same time inflation over the next nine years

will naturally make goods and services a lot more expensive. Now this report right here was published

last month by the Committee for a Responsible Federal Budget. It's a

nonpartisan organization that studies and analyzes the federal budget.

And after looking into it, they found that the Social Security Trust Fund is rapidly

approaching the point of insol offensive.

Specifically, they found that by the year 2033,

which is just nine short years from now,

the Old Age and Survivors Insurance Trust Fund,

which is what currently funds the Social Security program, will completely

deplete its reserves.

And once that happens, once this Social Security trust fund runs out of reserves by federal law. It mandates that quote,

the Old Age and Survivors Insurance Trust Fund can only spend in amounts equal to

incoming trust fund revenue, which means that all 70 million retirees, dependents, and survivors, regardless

of age, income, or need, will see their benefits cut by 23%.

That is a requirement by federal law, a 23% cut across the board, meaning that you've been taxed

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