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Social Security has less than 10 years before reserves are exhausted, new trustees report warns

The clock is ticking faster for American workers and seniors.The Social Security Administration’s newly released 2026 Trustees Report confirms that the federal retirement safety net is less than seven years away from fiscal depletion, as the Old-Age and Survivors Insurance (OASI) trust fund will completely exhaust its accumulated reserves in the fourth quarter of 2032.Once the reserve dries up, ongoing tax revenues will cover only 78% of scheduled retirement benefits, according to the report."One Big Beautiful Bill Act (OBBBA): Enacted on July 4, 2025, this law makes permanent the lower income...