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Here are the 5 facts:
1- Social Security touches more people than just about any other federal program.For more:
2 - Social Security is, and always has been, an inter-generational transfer of wealth
3 - Right now, Social Security has plenty of assets.
4 - But since 2010, Social Security’s cash expenses have exceeded its cash receipts.
5 - Social Security’s combined reserves likely will be fully depleted by 2034
- CBO: Social Security.
- CBO: The Long-Term Outlook for Social Security.