There's still time for the government to step in and reform the program to avoid this, and "everything's being considered," according to Social Security Commissioner Frank Bisignano in a recent interview. But those are scheduled to run out in about 2033, according to the latest Social Security Trustees' Report. The good news is there are a lot of different ways the government could resolve Social Security's funding shortfall. One was increasing the taxable wage base, which is the amount of income people pay Social Security taxes on each year. The more you can set aside now, the less you'll be affected by any potential cuts to Social Security.