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The system was always meant to be permanent and, even if nothing is done, the worst it will get will be a reduction of benefits to 70% of scheduled benefits. That's after it "goes bankrupt". Scheduled benefits are higher than current benefits.
As for when that will happen, here's the history of the projected date:
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|...............| We live in the nick of times.
| Len 17, Wid 3 |
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