what will happen if social security system is closed?

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With all these news happening nowadays it looks like the end of social security system is just a few months away. what will happen to our contributions way back then are they going to refund people before they closed? or our old parents will just die in our house leaving us with piles of bills. Social Security system is a huge relief when we get old. in time we cannot afford to work anymore. for some people who doesn't have anyone to depend when they get old, social security is a big help, right?