How 2024 presidential race may influence Social Security [Video]

With the Social Security Administration facing a looming funding crisis over the next decade, it’s clear that the next U.S. president — either Democratic candidate Kamala Harris or Republican candidate Donald Trump — is poised to inherit a Social Security dilemma.

Almost 68 million Americans receive Social Security payments every month. The benefits support seniors in their retirement, disabled Americans and survivors of beneficiaries, but the future of the Social Security Administration has been in jeopardy for years.

More than 11,200 Americans are now turning 65 every day. As more retirees start to claim Social Security, there are not enough workers contributing to the program to make up for that increase in benefit payments.

When such a shortfall happens, Social Security turns …