Social Security will be unable to pay full retirement benefits by 2034, one year earlier than previously projected, according to

When Social Security was first signed into law by President Franklin D. Roosevelt in August 1935, it created a crucial lifeline for Americans as they navigated their golden years. Roosevelt was passionate about the law,

The Social Security shortfall date just moved a little bit nearer. New federal projections, released on June 18, show that the combined Social Security trust funds will pay 100% of benefits until 2034 before becoming depleted. That date is one year earlier than the Social Security Administration reported a year ago.