As Social Security turns 90, Congress faces deadline to fix problems

Breakdown

• Social Security is marking its 90th anniversary and faces significant financial challenges.
• The program has been paying out more in benefits than it collects in payroll taxes for years. 1m 2s
• Without Congressional action, Social Security's main fund is projected to run out of money, resulting in a 23% cut to benefits. 1m 23s
• Proposed solutions include raising the retirement age, changing benefit calculations, or capping benefits for wealthy Americans. 1m 35s
• A similar funding crisis was addressed in the 1980s through bipartisan reforms. 2m 20s