Social Security faces an uncertain future. For 25 years, it has been taking in more than it has been paying out, and now has a $2.5 trillion reserve fund invested in government bonds.
This year, with the recession and high unemployment, less money has come in than anticipated, and the system has been drawing on the reserves.
The Congressional Budget Office estimates that the reserve fund and payroll taxes will cover full payment of benefits through 2037.
Miranda Harple is a multimedia producer at AARP Bulletin.