Once those trust funds are emptied, Social Security may have no choice but to cut benefits universally. The most recent Social Security Trustees Report puts the timing of those benefit cuts at 2035, which is when the program's combined trust funds are expected to be depleted.

The House is expected to try next week to pass a Social Security-related bill to ensure benefits for workers who are also eligible for other pensions despite a surprise move by hard-right Freedom Caucus leaders to derail the effort.

The House is expected to try this week to pass a Social Security-related bill to ensure benefits for workers who are also eligible for other pensions despite a surprise move by hard-right Freedom Caucus leaders to derail the effort.

But unfortunately, next year's COLA won't be quite as substantial. Because of cooling inflation, Social Security benefits are only going to receive a 2.5% raise in 2025.

The House is expected to try next week to pass a Social Security-related bill to ensure benefits for workers who are also eligible for other pensions despite a surprise move by hard-right Freedom Caucus leaders to derail the effort.