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Social Security may run out of funds in seven years, facing a 24% benefit cut, as national debt soars.
The Committee for a Responsible Federal Budget warns that Social Security could run out of funds in about seven years, causing a 24% cut in benefits.
The national debt-to-GDP ratio is at 100% and expected to reach 120% within a decade, with the federal deficit growing from $1.7 trillion to $2.6 trillion.
Ben Tomchik criticizes Congress for failing to pass regular budgets since 2003, relying instead on continuing resolutions, which hinders addressing long-term financial issues.
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La Seguridad Social puede quedarse sin fondos en siete años, enfrentando un recorte de beneficios del 24%, a medida que la deuda nacional se dispara.