Social Security at 90 as lawmakers weigh reform options

Social Security turns 90 this week, and while the program remains a cornerstone of American retirement security, its future is increasingly contested. With the trust funds projected to run dry in the mid-2030s, lawmakers face a choices menu ranging from tax increases on high earners to new investment programs and even changes to the retirement age. The anniversary highlights not only the program’s longevity but also the political difficulty of preserving it without altering its fundamental design.

Since its enactment in 1935, Social Security has evolved from a simple old-age pension into a multifaceted safety net that now supports tens of millions of Americans, including retirees, disabled workers, and survivors. In recent decades, the program has become a major, if contested, driver of the federal budget. The most recent actuarial outlooks warn that the two trust funds—covering retirement and disability benefits—could be depleted in the early to mid-2030s. If Congress does not act, benefits would be funded only from current tax receipts, triggering automatic reductions. Estimates vary, but the core message is consistent: a bipartisan response is required to prevent sharp...