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WEKU
WEKU
Scott Horsley

Social Security is now expected to run short of cash by 2033

Social Security Medicare Janet Yellen Joe Biden
A Social Security trust fund is expected to run short of cash by 2033, according to new estimates, which would potentially reduce benefits to millions of Americans who depend on the program. (Kevin Dietsch/Getty Images)

The Social Security program is expected to run short of cash to pay promised benefits in about ten years, while a key trust fund for Medicare will run out of funds by 2031, according to new forecasts issued Friday by trustees of both programs.

The projections serve as an annual reminder that the popular programs rest on shaky financial footings. While any effort to patch them is sure to face stiff political opposition, doing nothing is likely to be worse.

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