Uh oh.
Social Security Payments Could Be Interrupted For First Time In 80 Years
Social Security, the bedrock of safety net payments to 61 million Americans, could be interrupted by personnel cuts made by the Department of Government Efficiency (DOGE). It could create an economic catastrophe, at least for those who rely heavily on the funds.
The 61 million people who receive Social Security payments include retirees, people with disabilities, and their dependents and survivors. Last year, total annual costs were $1.6 trillion, making it the largest expense of the federal government.
The average payment to retirees, 52 million recipients, is just short of $2,000 a month. These payments make up about a third of the incomes of Americans who are over 65. The number is much higher for some. According to the Social Security Administration, “Among Social Security beneficiaries age 65 and older, 12% of men and 15% of women rely on Social Security for 90% or more of their income.”