00:02This morning, a dire warning. If Congress does not act, millions of Americans could see their
00:08Social Security checks reduced by hundreds of dollars a month in just a few years. A new
00:14analysis warns the program's retirement trust fund is on track to run out of money by the end
00:19of 2032. If that happens, benefits would not disappear, but they would be cut. The Committee
00:26for a Responsible Federal Budget estimates the average retiree would lose about $500 a month or
00:32roughly a 24% reduction in benefits. No state would escape the impact. Look at this. The biggest
00:39average cuts would hit states including Connecticut, New Jersey, New Hampshire, Delaware, Washington,
00:45and Minnesota, where retirees could lose more than $550 a month. The warning comes ahead of the
00:51Social Security Administration's annual trustees report, expected later this month. For now,
00:57these cuts are not automatic. Congress could step in with tax increases, benefit changes,
01:02or other fixes to keep the program solvent. But the clock is ticking. More than 60 million
01:08Americans currently receive retirement, survivor, or dependent benefits through Social Security.
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