NEW WARNING: Social Security could cut benefits by 22%

A new report is raising fresh concerns about the future of Social Security, warning that the program's financial outlook has deteriorated and that millions of Americans could face automatic benefit reductions if Congress fails to act.

According to the latest projections, Social Security's trust fund is now expected to be depleted in 2032 — one year earlier than previously forecast. If lawmakers do not approve changes before then, benefits could be automatically reduced by roughly 22 percent.

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