Social Security Could Shrink by 2032 Under Trump’s Budget — 2 Steps to Take Today

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WoodsTue, September 30, 2025 at 5:01 PM GMT+2 3 min readWarnings that Social Security will be severely diminished by the 2030s have been abundant in recent years. Some experts have predicted Social Security be all but insolvent by 2036, others have warned that the program will be struggling by as early as 2033 — at which time America will only be able to pay out 77% of the benefits owed to beneficiaries.Read More: Social Security Full Retirement Age Went Up This Month — Why It May Continue To RiseFind Out: How Far $750K Plus Social Security Goes in Retirement in Every US RegionUnfortunately, the depletion of Social Security’s major trust funds may come even sooner than that.According to Social Security Administration Chief Actuary Karen Glenn, that depletion date has likely moved “from the first quarter of 2033 to the fourth quarter of 2032,” per the American Society of Pension Professionals & Actuaries. The reason? The cost of enacting President Donald Trump’s controversial One Big Beautiful Bill Act (OBBBA).As reported by the Bipartisan Policy Center, the OBBBA will cost America $3.4 trillion over the next decade. That enormous price tag will require cutting into the trust fund that supplies retirement benefit payouts, thereby hastening the extreme diminishment of Social Security into 2032.The government still has time to act, though, either by raising America’s current retirement age of 67, or by increasing the payroll tax — neither of which have been popular solutions with voters, or Congress. At present, it remains unknown just how, or even if, the government will work to save Social Security between now and the 2030s.While it’s important to remember that Social Security will not entirely disappear by 2032 (the program will remain, albeit in an increasingly lessened capacity), it’s also important to prepare for an America in which Social Security recipients only receive a percentage of their benefits, rather than the full amount.Per CNBC, here are specific ways you can prep for such an eventuality.Regardless of how close (or far) you are from retirement, you can still create a Social Security website account and download your Social Security statement. That statement provides you with a breakdown of your estimated monthly Social Security payout (based upon the assumption that you’ll earn, at the very least, your current salary until your eventual retirement). 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