Seventy-Eight Percent of a Retirement

Dirk Hanlon: Social Security's retirement trust fund runs dry in 2032. Gus: then I'll retire now, before it's gone. Dot: Father, it does not vanish; incoming payroll tax still pays 78 percent. Lorraine: a 22 percent cut, dear, for more than 60 million people. Dot: unless Congress raises taxes, cuts benefits, or both; lawmakers have known for years and been slow to act. Gus: then I'll only retire 78 percent.

Social Security's retirement trust fund is expected to run dry in 2032, six years from now; after that incoming payroll tax would cover only 78% of benefits, a 22% cut for more than 60 million Americans unless Congress acts by raising taxes, cutting benefits or both.

Starring

Dirk HanlonGus PeltDot PeltLorraine Pelt