Social Security’s 90th Anniversary Comes with a Big Warning for the Future

Social Security’s 90th Anniversary: Facing a Financial Cliff Before Turning 100.

Ninety years ago, President Franklin D. Roosevelt signed the Social Security Act, launching a program that has since provided monthly benefit payments to millions—retirees, people with disabilities, and their families. This landmark legislation laid the foundation for America’s modern social safety net.

Social Security’s 90th Anniversary trust fund depletion

However, as the program approaches its centennial in 2035, its future hangs in the balance. The Social Security trust funds—the Old-Age and Survivors Insurance (OASI) and Disability Insurance (DI) reserves—are projected to face severe depletion.

Social Security reform proposals 2025

Following the Social Security’s 90th Anniversary, according to the 2025 Trustees Report, if no reforms are enacted:

• By 2033, the OASI fund may only have enough income to pay 77% of scheduled benefits using payroll tax revenue.
• If legislators merge the OASI and DI funds—as done in past funding emergencies—benefits could remain at 81% of scheduled amounts until 2034.
• Importantly, benefits would not stop entirely—ongoing payroll tax revenues would still generate income. But without action, automatic benefit cuts appear increasingly likely.

Bipartisan Legislative Solutions Take Shape

With pressure mounting, lawmakers are stepping up with innovative proposals to stabilize Social Security before the crisis deepens.

Cassidy Kaine Social Security plan

Senator Bill Cassidy (R‑LA), alongside Senator Tim Kaine (D‑VA), has unveiled a bipartisan plan to inject $1.5 trillion into a separately managed investment fund. Unlike the current trust funds, which are limited to low-yield Treasury bonds, this fund would invest in a diversified portfolio—stocks, bonds, and other higher-return assets—and grow over the next 75–70 years.

• In the interim, the U.S. Treasury would cover benefit shortfalls.
• Over time, the investment returns would both reimburse the Treasury and supplement payroll tax income.
• Proponents argue this preserves benefits without raising taxes on seniors or increasing the national debt.

Critics, however, question whether such returns can be secured in time to avert insolvency. They also warn the plan skirts tougher structural reforms.

Larson’s Social Security 2100 Act: Expanding Benefits, Increasing Wealth Tax.

Representative John Larson (D‑CT) has sponsored the Social Security 2100 Act, which proposes:

A 2% across‑the‑board benefit increase and improved COLA indexing

Enhanced support for low-income retirees, widows, students, and grandfamilies

Combining OASI and DI funds for smoother payouts

Funding reform through lifting the payroll tax cap, applying FICA taxes to earnings over $400,000, and adding a 12.4% investment income tax on high earners.

This plan is designed to restore solvency for decades while strengthening benefits for vulnerable groups.

How the Policy Proposals Compare

What Americans Want and What Experts Say

A poll by the Bipartisan Policy Center’s American Savings Education Council found:

• 83% of Americans consider Social Security reform a top congressional priority
• Broad support exists for raising taxes on the wealthy and adjusting benefits based on income

Experts note that without bipartisan compromise, the program’s future is uncertain. Both Cassidy’s and Larson’s plans show different paths—one rooted in investment and financial engineering, the other in equity-based benefit reform.