Social Security faces steep cuts. These senators want to bet on stocks and $27 trillion in debt to save it—but ‘the gamble does not always pay off’

Lawmakers have long known that Social Security faces a day of reckoning but have dodged any reforms that would cut benefits, hike taxes, or do both.Recommended Video The dilemma gained more urgency when new projections this month showed that the Social Security trust fund will run out of money sooner than previously thought, meaning benefits would face a 22% cut by 2032 unless adjustments are enacted. For years, revenue from payroll taxes has been insufficient to fund current benefits, and the trust fund covered the gap. But once it runs out, Social Security will only be able to distribute what comes in.

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