The sharp shock of the coronavirus recession pushed Social Security a year closer to running out of funds.  For the first time in 39 years, the cost of delivering benefits will exceed the program's total income from payroll tax collections and interest during this year.

And from here on, Social Security will be tapping its investments to pay full benefits.

But the government reported Tuesday that Social Security's massive trust fund will be unable to pay full benefits in 2034 instead of last year's estimated exhaustion date of 2035.

At that point, the government would only be able to pay 78% of scheduled benefits.

The White House and Congress offered assurances they would protect the program, but have not offered plans.