The Social Security trust fund, which has been funding retirement benefits through a pay-as-you-go system, is projected to be depleted by 2033, triggering an automatic 23% benefit reduction across all recipients.
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Is Social Security Dying?Added:
Somewhere along the way, the deal changed. The safety net you've been counting on, the one you've been paying into for 30, [music] 40, maybe 50 years, has holes in it. Big ones. The trust fund that pays your retirement [music] check is on track to run dry by 2033.
That's not a prediction. [music] That's not a worst-case scenario. That's the official projection. A 23% [music] benefit cut written into law, ready to trigger [music] automatically. Pay in now, the system pays you back later.
>> [music] >> That's how it works. That's how it's always worked. But
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