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Why the latest warnings about cuts to Social Security and Medicare are a reason to worry

Paul Brandus
Why the latest warnings about cuts to Social Security and Medicare are a reason to worry

You’ve spent a lifetime paying into Social Security, but there’s no guarantee that you’ll get out of it what you’ve put in. The federal government earlier this year admitted that for the first time since 1982, it needs to dip into Social Security’s trust fund to pay for the program this year. Here’s how bad: Unless something’s done to shore up Social Security, monthly checks could get cut 23% by 2034.