DEMOGRAPHICS: Social Security’s finances are being hit by a wave of demographics as millions of baby boomers reach retirement, leaving fewer workers behind to pay into the system. About 56 million people get benefits today; that is projected to grow to 91 million in 2035.
DWINDLING SURPLUS: The system’s surplus, now valued at $2.7 trillion, will be gone in 2033. At that point, Social Security would only collect enough tax revenue each year to pay about 75 percent of benefits, unless Congress acts
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