Social Security trust fund could run dry by late 2032

Trustees of the Social Security program say the retirement trust fund may be depleted in the fourth quarter of 2032. Without congressional action before then, retirement benefits could be cut by 22 percent, according to the trustees as cited by CNBC. A Peter G. Peterson Foundation survey reports that 81 percent of voters in states with competitive Senate races are more likely to back a candidate with a plan to avoid automatic cuts. Thirty-five Senate seats are up for election in November, and CNBC identified nine races where candidates have discussed the program's future.