Social Security could be EXHAUSTED by 2023

A new federal Trustees report is renewing concerns about Social Security’s long-term finances — but experts say some of the most alarming claims circulating online are misleading.

The report projects that the program’s retirement trust fund will be depleted in 2032, about a year earlier than previously estimated. After that point, Social Security would still collect payroll taxes from workers, but those incoming revenues would only be enough to cover roughly 75 to 80 percent of scheduled retirement benefits.

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