Brandon TurbevilleNatural Blaze
June 18, 2018
A recent report circulating throughout the mainstream media regarding the coming “insolvency” of Medicare and Social Security has sent shockwaves through the United States with many of the Baby Boomer generation concerned that, after working and paying into the program their entire lives, they will be left with nothing when it finally comes time to stop working.
As the Associated Press reported,
Medicare will run out of money sooner than expected, and Social Security's financial problems can't be ignored either, the government said Tuesday in a sobering checkup on programs vital to the middle class.
The report from program trustees says Medicare will become insolvent in 2026 — three years earlier than previously forecast. Its giant trust fund for inpatient care won't be able to fully cover projected medical bills starting at that point.
The report says Social Security will become insolvent in 2034 — no change from the projection last year.
The warning serves as a reminder of major issues left to languish while Washington plunges deeper into partisan strife. Because of the deterioration in Medicare's finances, officials said the Trump administration will be required by law to send Congress a plan next year to address the problems, after the president's budget is submitted.



