Social Security won’t be able to pay full benefits by 2034

Social Security will have to cut benefits by 2034 if Congress does nothing to address the program’s long-term funding shortfall, according to an annual report released Tuesday by the Social Security and Medicare trustees.Social Security will have to cut benefits by 2034 if Congress does nothing to address the program’s long-term funding shortfall, according to an annual report released Tuesday by the Social Security and Medicare trustees.