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Don’t believe this myth about Social Security

Many Americans believe Social Security won’t exist when they retire — they’re wrong.

Social Security does face serious challenges, and the payout may decline — but the program itself is not going anywhere. The two trust funds that pay Social Security’s benefits — the Old-Age and Survivors Insurance (OASI) and the Disability Insurance (DI) trust funds — are running out of money, and the Social Security Administration’s trustees do anticipate those accounts will run out of money in 2035.

But if that happens, Social Security benefits won’t disappear. If Congress does nothing to fix the program, Social Security will rely on the taxes coming in and Americans will just get less of a benefit.

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