Social Security's $23 trillion shortfall
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Social SecurityThe Motley Fool
•Business
Business & Economics
Social Security is facing a $23 trillion shortfall over the next 75 years. Here's how to fix it
76% Informative
Social Security is currently facing a shortfall of nearly $23 trillion over the next 75 years .
The latest estimates suggest the program's trust funds will be depleted in less than a decade .
The worst-case scenario would see benefits slashed by nearly one quarter , though this isn't likely.
The most popular option by far involved creating a donut hole for Social Security payroll taxes.
Of the six proposals, this was the least agreed-upon.
If enacted, it would likely affect many middle-income Americans , as well as high earners.
It's unclear whether the government will enact any of these proposals.
Congress will likely consider all available options before making its decision.
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