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The Latest Breaking News from CRFB

How Boomers voted the next generation a $40 trillion debt — and counting

Over a 25-year reign spanning the presidency, Congress and the C-suite, the baby boom generation built the largest debt in U.S. history—and left the bill.

Fortune

Retirees Could Get $730K From Social Security After Paying Under $200K: Why Millennials Are Worried

Social Security faces challenges as fewer workers support more retirees. Future retirees may receive substantial benefits, but demographic shifts and financial pressures raise concerns about the system's sustainability.

International Business Times UK

Baby boomers are collecting 265% of what they paid into Social Security—and millennials are paying the price

"The reality is that Social Security is not a savings program where workers’ payroll tax contributions are saved in an account and used to pay their benefits."

Fortune

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Could Your Social Security Check Drop by $500 a Month? These States Face the Biggest Losses

A $500 monthly cut would mean finding another $6,000 every year for groceries, utilities, insurance, housing, and healthcare, which is an enormous adjustment for someone...

Saving Advice

As U.S. Debt Pierces $40 Trillion, a $6 Billion-a-Day Borrowing Habit Drives Push for Spending Cap

U.S. debt hit $40 trillion this week. A House GOP chairman says daily interest now tops defense spending — and wants states to force a fix.

Latin Times

Social Security is celebrating its 91st birthday. It won't live to 100, watchdog warns

"Social Security won’t make it past age 97 as things currently stand," said the CRFB's Maya Macguineas. "At least not in its current form."

Fortune

Trump's new $950 billion tariff scheme still leaves a 40% shortfall in his grand plan to rebalance the $39 trillion national debt, finds budget study

"We currently estimate that the tariffs enacted and proposed under this administration since January 2025 will generate about $825 billion less revenue through FY 2036 than estimated," the Committee for a Responsible Federal Budget says.

Fortune

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What the 2032 Social Security Shortfall Will Cost Retirees in Every State

Reducing Social Security benefits doesn't just impact retirees — it hits state economies, creating a double-whammy effect of smaller checks and lower GDPs.

Kiplinger

‘Social Security is on a collision course toward insolvency,’ watchdog says. It hasn’t been this bad since 1983

The 2026 Social Security Trustees’ Report finds the worst financial outlook in nearly half a century—and a new law signed this year made things worse.

Fortune

What? Could your Social Security benefits be cut by $500 a month in 2032? Here's which states face the biggest losses from trust fund insolvency

For millions of retirees, Social Security is more than a government benefit. It is a lifeline. New projections warn monthly checks could fall by about $500 in 2032 if the trust fund runs short. The risk is not immediate. But the numbers reveal why many Americans are growing increasingly concerned.

The Economic Times

Social Security faces a 24% cut in 2032—that's a $345 billion hit to retirees nationwide, watchdog says

Treasury Secretary Scott Bessent once called Trump Accounts a "back door for privatizing Social Security," but now insists retirees will face no loss in benefits.

Fortune

10,000 Boomers a day, $39 trillion in debt, and no benefit cuts: Bessent stakes Social Security on the Trump economy

Bessent vowed, "the senior citizen does not not pay more taxes and the senior citizen does not get less benefits." Meanwhile the trust fund is going broke.

Fortune

Inside the Republican Plan To Raise the Retirement Age to 69 To Salvage Social Security

Republicans are backing a plan to raise the full Social Security retirement age to 69 for younger US workers, arguing it is needed to salvage the system before its trust fund runs dry in 2032.

International Business Times UK

Social Security's Trust Fund Is Running Out — A $500 Monthly Cut Could Hit Americans in All 50 States

The Social Security trust fund may be depleted by 2032, risking $500 monthly benefit cuts for millions. Urgent policy changes are needed to prevent widespread financial instability.

International Business Times UK

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Fortune

Surging Treasury yields expose a brutal truth: America has no margin for error on its $31 trillion debt

America must refinance $10 trillion in debt over the next year. Rising Treasury yields could make that a catastrophe.

Fortune

Interest on the national debt is eating a record 19% of federal revenue — and watchdog warns it will get worse

The 30-year Treasury yield just hit its highest point since before the Great Recession. A leading fiscal watchdog warns the timing could not be worse.

Fortune

'Any semblance of fiscal responsibility' was abandoned two decades ago, says budget watchdog, and challenges Congress to cut deficit levels by half

A 3% benchmark would require approximately $10 trillion in deficit reduction over the next decade, if the target is reached by 2036.

Fortune

America's debt just hit a milestone not seen since WWII — and credit agencies are sounding the alarm

America's debt just surpassed the size of its entire economy. That could mean higher mortgage rates, costlier loans, and government spending ever more squeezed.

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Fortune

For the first time since World War II, America owes more than it produces—and a leading fiscal watchdog is sounding the alarm

“We’ve heard plenty of alarm bells in the past few years about our fiscal path,” said Maya MacGuineas of the CRFB, “but this one rings especially loudly.”

Reason

What if Social Security Was Capped at $100,000 Annually?

One weird trick could extend Social Security's solvency while reducing payments to the wealthiest households. But it doesn't go far enough.

Fortune

The ticking time bomb buried in Trump’s 2027 budget

$7.8 trillion in extra revenue, GDP growing at 3%, vanishing deficits, and a 42% defense hike—to skeptics Trump’s math just isn’t adding up.

Fortune

Trump, the $39 trillion national debt, rosy growth assumptions and the question of 'a sustainable path'

The White House is betting 3% GDP growth will shrink the deficit—but faster growth would likely drive up interest costs on the $39 trillion national debt.

Fortune

Trump just raised the $39 trillion national debt with the largest budget hike since World War II—and nobody can figure out how to pay for it

“MAGA was told an untruth by Trump—no foreign wars, no adventurism,” Steve Hanke told Fortune. “This is a massive militarization.”

Fortune

Trump wants to add nearly $7 trillion to the $39 trillion national debt with his new military budget, watchdog warns

Trump's proposal would be "by far the largest year-over-year increase in defense spending in the post-WWII era," the CRFB said.

Reason

10 Years Ago Today, Trump Promised To Eliminate the National Debt. Instead, It Has Doubled.

Trump's ridiculous, grandiose promise tells us something about the federal government's fiscal affairs and the president's approach to policy.

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People

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