Social Security and Medicare Funds Face Accelerated Depletion Risks
TL;DR Summary
Federal projections indicate that Social Security will run out of funds by 2034 and Medicare by 2033, a year earlier than previously estimated, due to increased benefits, lower fertility, and rising healthcare costs, prompting urgent calls for legislative action.
- The 'Go-Broke Date' for Social Security Is Moved Up Newser
- Social Security Benefits Could Be Cut in 8 Years Unless Congress Acts The New York Times
- Social Security fund could run dry ahead of earlier forecast, trustees say The Washington Post
- Social Security retirement trust fund may be depleted in less than a decade, new trustees' report finds CNBC
- Medicare and Social Security go-broke dates pushed up due to rising health care costs, new SSA law AP News
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