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09.07.2021 0

Social Security, Medicare in DEEP TROUBLE!

Social Security, Medicare Are in Deep Trouble, but Solutions Mean Tough Choices. with today’s Americans for Limited Government Minute, I’m Catherine Mortensen. According to the latest trustee reports, Social Security will be unable to pay full benefits a year earlier than previously projected, while Medicare’s insolvency date remains just five years away. But nobody in the nation’s capital is stepping up with proposals to fix the two largest federal entitlement programs. Between them, those benefits consume nearly one-third of all federal spending. The cost of benefits are rising faster than the available funds to cover them—tax revenues, individual premiums and trust funds—with the result that, absent any reforms, Medicare insolvency is projected for twenty-twenty-six 2026 and Social Security’s for twenty-thirty-three. Heritage Foundation Senior Fellow Doug Badger said that political will is the key to making progress. quote – We need leaders in both parties to get serious about fiscal matters in general and about middle-class entitlements in particular. For more, check us out at the Daily Torch.com

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