Social Security Could Become in Insolvent by 2024

Social Security could run out of money in just 10 years if the present trends continue, according to research from the Heritage Foundation.

After major reforms to Social Security in 1983, the system was supposed to be financially solvent for 75 years until 2058.

Now, the official estimate from the government is that the program is projected to be insolvent much sooner, in the year 2033.

But the Heritage Foundation believes that if historical trends continue, Social Security could become insolvent in 2024.

And it's expected to add nearly $1 trillion to the federal deficit in the next 10 years.