The Social Security cut no one is talking about
Kam Shenai | Published on 1/6/2026
Reprinted from Orlando Sentinel, JAN 2
Over the holidays, I sat down with my 20-year-old grandniece, a college sophomore full of plans for her future. As we talked about careers and her future, she grew serious. “By the time we get to your age,” she said, “Social Security will be gone — and nobody even talks about it.”
She was right. That conversation convinced me it’s time to explain this supposedly “complicated” issue in plain English.
Here’s the reality: under current law, Social Security’s trust funds are projected to run out in 2035 — just nine years from now. Those trust funds are savings built up over time. Once they’re gone, Social Security doesn’t disappear — but it can only pay benefits using money coming in from workers’ paychecks.
That would cover about 81% of promised benefits. In simple terms, that means an automatic 19% cut for everyone who relies on Social Security — retirees, people with disabilities, surviving spouses and children. No vote in Congress would be required.
The system is already under strain. In 2024, Social Security’s reserves fell by about $65 billion, leaving roughly $2.8 trillion remaining. For several years now, the program has paid out more than it takes in, steadily draining those savings.
For the average retiree receiving about $1,927 a month, it would mean losing roughly $366 every month — more than $4,300 a year. For many, that’s the difference between getting by and falling behind.
Why is this happening? Two simple reasons.
First, demographics. Baby Boomers are retiring in large numbers, people are living longer, and fewer workers are paying in.
Second, the way we fund Social Security. In 2025, Social Security taxes apply only to wages up to $176,100. Earnings above that aren’t taxed for Social Security. When the system was last fixed in 1983, that cap covered about 90% of wages. Today, it covers closer to 82%, because income at the top has grown much faster than everyone else’s.
Here’s the part that matters most: Social Security can be fixed if we choose to act.
We’ve done it before. In 1983, President Ronald Reagan and House Speaker Tip O’Neill — a Republican and a Democrat — came together to strengthen Social Security and extend its solvency for decades. They made tough choices.
We can do this again, but only if both sides are willing to give. Republicans must accept that more revenue is part of the solution, especially from those who can afford it. Democrats must accept that benefits and retirement ages need adjusting to match demographic reality. Both can protect what matters most: a functioning Social Security system.
My grandniece will likely pay hundreds of thousands of dollars into Social Security over her lifetime. She deserves to know the system will still be there when she needs it.
So, here’s the ask. Talk about this openly. Ask candidates what they plan to do before 2035. Ask your representatives to act now, while fixes can still be gradual. This isn’t a distant problem for “other people.” It affects parents, grandparents and young workers paying in today.
We still have time. But only if we choose to use it.
Kam Shenai is co-founder of AAPI Coming Together (ACT Florida).