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Social Security Facts Everyone Should Understand

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      This year, like last year, Social Security’s trustees said the program’s two trust funds would be depleted in 2034. 
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      Medicare beneficiaries also wouldn’t face an immediate cut after the trust fund is depleted in 2026. The trustees said the share of benefits that can be paid from revenues will decline to 78% in 2039. That share rises again to 85% in 2092. The hospital fund is financed mainly through payroll taxes. 
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      The trustees said Medicare’s changed outlook is due to adverse changes in the program’s income and costs. Hospital insurance fund income is projected to be lower than last year’s estimates thanks to “lower payroll taxes attributable to lowered wages in 2017 and lower levels of projected GDP,” the trustees said. 
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