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Story summary
- U.S. President Donald Trump’s tax and spending law worsened Social Security, with Old-Age and Survivors Insurance (OASI) projected to run out by 2033.
- The law offers tax breaks that raise costs by $168.6 billion and hasten depletion.
- A 23% benefit cut is necessary to sustain payouts after depletion.
- Demographic shifts, low birth rates and reduced immigration, strain Social Security.
- Social Security is not bankrupt and could cover 77% of benefits.
