Sen. Rick Scott, R-Fla., on Thursday called for sweeping fiscal reforms and immediate action to shore up Social Security.

He warned that retirees could face significant benefit reductions if Congress continues to delay addressing the program's financial challenges.

During an interview on Newsmax's "Wake Up America," Scott said lawmakers have spent years avoiding difficult decisions on entitlement programs and federal spending, even as Social Security's retirement trust fund moves closer to insolvency.

"It's really frustrating. This place is like kick the can, kick the can, kick the can. Don't do it. Don't do the hard things," Scott said. "Well, the hard thing is to take care of the American people."

Scott's comments come as the latest Social Security trustees report projects that the Old-Age and Survivors Insurance Trust Fund will be depleted in late 2032, one year earlier than previously projected.

If Congress fails to act, continuing payroll tax revenue would be sufficient to pay only about 78% of scheduled benefits, resulting in an automatic reduction for beneficiaries.

The Florida Republican said such an outcome would be unfair to Americans who have paid into the system throughout their working lives.

"The trust fund for Social Security goes away. It's out of money in ... 2032. That means everybody on Social Security will get about a 24% cut. That's unfair. They paid their money, and we need to fix the program — now," Scott said.

Scott also pointed to broader fiscal challenges facing the federal government, including Medicare's long-term finances, annual deficits and mounting interest costs on the national debt.

"We've got Medicare, we've got to fix Medicare. We've got a $2 trillion a year deficit. We've got over $1 trillion a year of interest expense. We're seeing inflation caused by massive government spending. Let's fix it," he said.

The senator argued that Congress should pursue a balanced-budget strategy and curb federal spending.

"Balance the budget," Scott said, noting that he balanced the budget in Florida as governor.

"You probably balance your budget at home. You can do it. Just stop spending money. It's not that hard," Scott said.

Social Security provides benefits to nearly 70 million Americans and remains one of the federal government's largest programs.

Trustees have repeatedly warned that demographic changes, including the retirement of the baby boom generation and a declining ratio of workers to beneficiaries, are placing increasing pressure on the system's finances.

Under current projections, Social Security would continue paying benefits after trust fund depletion, but at reduced levels unless lawmakers approve changes to revenue, benefits, or both.

Analysts and trustees have urged Congress to act sooner rather than later, arguing that delays could require more abrupt policy changes in the future.

Scott also said Republicans heading into the fall elections must focus on economic concerns affecting households across the country.

"What are we doing to get the cost of living down? What are we doing to protect Social Security and Medicare? So what are we doing on the pocketbook issues for all Americans?" Scott said. "That's what we have to do, and that's how we'll win this fall."

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