Heresy Financial predicts Social Security trust fund depletion triggers ‘next big crisis’ in 2032

What was said

"we know exactly when it's going to start. And that is because in the fourth quarter of 2032, the Social Security's trust funds reserves will become depleted. And as of right now, they project that at that time, they will only have enough money coming in to pay 78% out to existing beneficiaries."

The host of Heresy Financial argues that the next major US financial crisis is already scheduled, pointing to projected depletion of Social Security trust fund reserves in the fourth quarter of 2032. He says projections indicate incoming revenue would cover only about 78% of payments to existing beneficiaries, and suggests any policy response would leave “somebody or everybody” worse off.