Social Security is the backbone of many Americans' retirement plans. More than one-third of adults said the government program would be a major source of income in retirement in the most recent edition of an annual Gallup poll.

The latest trustees' report from Social Security contains more bad news and another call for action that will almost certainly be ignored. Trustees say that without preventative action, the system's "trust fund" will be exhausted in the first quarter of 2033 — eight years from now.

Seniors are facing an automatic 23% cut to benefits, unless Congress takes action. First, legislators would have to admit there's a problem.

Social Security is the backbone of many Americans' retirement plans. More than one-third of adults said the government program would be a major source of income in retirement in the most recent ...

A new bipartisan plan is in the works to help save Social Security for Americans, with the funds currently slated to dry up within the next decade. Sen. Bill Cassidy, R.-La., joins "Elizabeth Vargas Reports" to discuss how the plan offers sound policy for Americans while navigating the political complexities involved.

As a result, Social Security has been running a deficit in most years since 2018. And that deficit is getting worse each year as the retired population grows faster than the working population.