WASHINGTON — The senators elected last week will take office with one of the biggest fiscal deadlines in decades ahead of them. Before their six-year terms end, Social Security's main trust fund is projected to run out of money.

Senators elected this November must answer a crucial question before their terms end: What will they do to fix Social Security? Because senators serve six-year terms, more than a third of the incoming Senate will be responsible for reforming the program or letting its funding run out.

The latest trustees' projections indicate that Social Security's Old-Age and Survivors Insurance trust fund could exhaust its reserves in the fourth quarter of 2032.

If that happens, the Social Security Administration would only have enough incoming tax revenue to cover about 78% of scheduled benefits. That would amount to an across-the-board cut of about 22%. The Committee for a Responsible Federal Budget estimates that for an average dual-income couple retiring........

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