Social Security

The Department of Government Efficiency, aka DOGE, is a task force Trump has appointed, headed by Elon Musk and Vivek Ramaswamy. It has some lofty resolutions for its stated goal of cutting wasteful government spending.

About 3 million retirees would get full benefits in addition to pensions. As a result, Social Security could hit insolvency earlier.

The study from the Employee Benefit Research Institute finds many retirees worried they are spending more than they can afford.

The Republican Party says it will maintain Social Security and Medicare entitlements without cutting benefits, but that's a tall order.

Social Security benefits are adjusted to protect retirees against inflation, but not enough, according to some experts, advocacy groups and lawmakers.

The program pays $1.5 trillion a year and aids 70 million Americans. But it has its own budget and by law can't create debt or widen deficits.

The Social Security program is on track to burn through its savings account by 2035 unless Congress changes the law before then. Social Security faced a similar funding crisis in the early 1980s.

Social Security has been known as “the third rail of American politics” since the early 1980s, with the idea that touching the program can prove deadly to a politician’s career.

Freeze your credit, and don’t be afraid to ask for help or use free, online resources, experts say.

Monday's report on the system's "go-broke" date raises questions about how Social Security is funded.