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Medicare faces insolvency by 2026, with Social Security not far behind, report says

Posted by www.psmbrokerage.com Admin on Fri, Apr 26, 2019 @ 10:56 AM

Medicare faces insolvency by 2026, with Social Security not far behind, report says

WASHINGTON (AP) — The financial condition of the government’s bedrock retirement programs for middle- and working-class Americans remains shaky, with Medicare pointed toward insolvency by 2026, according to a report Monday by the government’s overseers of Medicare and Social Security.

It paints a sobering picture of the programs, though it’s relatively unchanged from last year’s update. Social Security would become insolvent in 2035, one year later than previously estimated.

Both programs will need to eventually be addressed to avert automatic cuts should their trust funds run dry. Neither President Donald Trump nor Capitol Hill’s warring factions has put political perilous cost curbs on their to-do list.

Read the full article: https://www2.bostonglobe.com/news/politics/2019/04/23/medicare-faces-insolvency-with-social-security-not-far-behind-report-says

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Tags: Medicare

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