Warren Buffett once called cutting Social Security a ‘mistake.’ Now the CBO says the hit may be 26% by 2032 — $543 less

Daniel Zuchnik/Getty Images Warren Buffett saw this coming two decades ago. "I basically believe that anything that would take Social Security payments below their present guaranteed level is a mistake," he said at a 2005 Berkshire Hathaway meeting. Fast forward to today, and America's Social Security retirement trust fund is expected to run dry as soon as 2032. Retirees' benefits could drop by roughly a quarter once it does, but the exact number depends on which government source you ask. While the trustees anticipate a 22% cut, the Congressional Budget Office (CBO) notes a larger cut, at 26%. Must Read Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake.