Social Security is a vital source of income for millions of Americans, but after 90 years, the program faces significant financial challenges that could reshape it for future generations.

If Congress fails to act, retirees could see their monthly checks cut by 23 percent in less than a decade — slashing thousands of dollars from the average person's annual benefits.

Lawmakers are unlikely to let that happen, but so far, they've opted to kick the can down the road, avoiding politically unpopular solutions and complicating eventual fixes.

President Franklin D. Roosevelt (D) signed Social Security into law on Aug. 14, 1935, as a way to give "some measure of protection to the average citizen and to his family against the loss of a job and against poverty-ridden old age."

Here's what to know about the state of the program 90 years later:

How many people receive Social Security?

Nearly 70 million people received Social Security benefits in July, with the average check totaling $1,863. Retired workers made up the largest share — roughly three-quarters, or about 53 million.

The program also supports other groups: Nearly six million people received survivor benefits last month, while more than eight million collected disability insurance.

Most people aged 65 and older receive the majority of their income from Social Security, making it a vital lifeline for millions of adults — and children — who would otherwise fall below the poverty line.

Without Social Security benefits, 37 percent of older adults would have had incomes below the official poverty line in 2023 —........

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