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These states could be ruined if Social Security is cut

GOBankingRates Logo By Joel Anderson of GOBankingRates | Slide 1 of 11: The year 2034 is looming in the future for many politicians and public planners. That’s because it’s the year when, based on current projections, Social Security’s trust fund will finally run out and the program will need to find new sources of revenue — or make some cuts.
Although Social Security cuts could make life harder across the U.S., a GOBankingRates study found that some states are facing a much bigger hit than most based on the size of their senior population and the portion of the state receiving Social Security benefits. For plenty of states, cuts to Social Security benefits could potentially reach beyond just making it harder for retirees to get by and have a profound effect on the region’s economy as a whole.

These states could be ruined if Social Security is cut

The year 2034 is looming in the future for many politicians and public planners. That’s because it’s the year when, based on current projections, Social Security’s trust fund will finally run out and the program will need to find new sources of revenue — or make some cuts.

Although Social Security cuts could make life harder across the U.S., a GOBankingRates study found that some states are facing a much bigger hit than most based on the size of their senior population and the portion of the state receiving Social Security benefits. For plenty of states, cuts to Social Security benefits could potentially reach beyond just making it harder for retirees to get by and have a profound effect on the region’s economy as a whole.

© Kameleon007 / Getty Images/iStockphoto

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