A Social Security trust fund is expected to run short of cash by 2033, according to new estimates, which would potentially reduce benefits to millions of Americans who depend on the program.
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HOUSTON, TX - DECEMBER 14: (EDITORIAL USE ONLY) A medical staff member Stephanie takes a short nap in nursing station in the COVID-19 intensive care unit (ICU) at the United Memorial Medical Center on December 14, 2020 in Houston, Texas. (Photo by Go Nakamura/Getty Images)
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Feb. 18, 2022, smoke billows from the burning Felicity Ace car transport ship as seen from the Portuguese Navy NPR Setubal ship southeast of the mid-Atlantic Portuguese Azores Islands. (Portuguese Navy via AP, file)
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Federal Reserve Vice Chair for Supervision Michael S. Barr appears before the Senate Banking, Housing and Urban Affairs Committee in Washington, D.C., on March 28, 2023. The collapse of Silicon Valley Bank has sparked scrutiny from lawmakers who want to know what went wrong and whether regulators did enough to oversee the lender.
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Federal Reserve Chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington, DC, on Feb. 1, 2023. The Fed on Wednesday raised interest rates again, opting to continue its fight against inflation despite turmoil in the banking sector.
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Treasury Secretary Janet Yellen said that depositors at small banks could be eligible for the same kind of protection extended to customers at two regional banks that failed this month. Yellen made the remarks at a speech she delivered to the American Bankers Association on March 21, 2023.
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An unhoused individual sleeps under an American flag blanket in New York City on Sept. 10, 2013. In 2021, approximately 11% of Americans lived below the federal poverty line.
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