It’s always important to look to the future of Social Security, at least enough to plan for it.

NORA would be remiss to overlook the current rumors about the future of Social Security. While different economists and analysts have their own outlooks, we do our best to bring you the most popular and statistically likely prospects.

Here are some of the most concerning facts about Social Security’s future in the current economy:

• Reserves are projected to be depleted by 2035
• Tax revenues will only cover about 75 percent of projected needs
• The number of recipients is growing
• The number of payers is shrinking
• Benefits could be slashed by 23 percent

These are some eye-opening stats for sure. Can this issue be remedied? Yes, it can. Because seniors have paid faithfully into Social Security for years, it’s the job of lawmakers to make sure this program is there for those who have propped it up. We fight for fair yearly COLAs, so follow us on Twitter and Facebook to support the cause.