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When Will the Social Security Trust Funds be Exhausted?

Sooner than we think. According to the latest trustees’ report for Social Security released last Monday, Social Security’s combined trust funds will be exhausted by 2033 — three years earlier than last year’s projections, and seven years earlier than projections made in 2006. This means that by 2033, Social Security benefits would have to be slashed significantly. Sounds bad, right? Well, it gets worse.
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