Published 1 year ago

Social Security trust fund on track to run out in 2033: analysis

Summary by Ground News

Social Security and Medicare will run short of money to pay full benefits within the next decade, report says. The report is another prod for politicians to address the fragile financial state of the social programs. Inflation and economic output are driving some of the fund's troubles. President Joe Biden has vowed to rebuff any Republican-led efforts to cut benefits.

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Reuters

U.S. Social Security fund seen depleted 2033, year earlier than previous estimate

The U.S. Social Security system's main trust fund's reserves will be depleted in 2033, one year earlier than estimated last year, while Medicare's finances have improved slightly, reports from the programs' trustees showed on Friday.

1 year ago·United Kingdom

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Associated Press News

Medicare, Social Security could fall short over next decade

An annual report on Social Security and Medicare says the financial safety nets millions of older Americans rely on and millions more young people are counting on will run short

1 year ago·United States

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USA Today

Social Security benefits at risk: New report says reserves to run out year earlier than projected

The annual update on the financial state of Social Security and Medicare comes as President Biden and Republicans are in a standoff over spending.

1 year ago·United States

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abc News

Medicare, Social Security could fall short over next decade

An annual report on Social Security and Medicare says the financial safety nets millions of older Americans rely on and millions of young people are counting on will run short on funds to pay full benefits within the next decade

1 year ago·United States

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CNN

Social Security will not be able to pay full benefits in 2034 if Congress doesn't act

Americans' Social Security checks will get a lot smaller in 2034 if lawmakers don't act to address the pending shortfall, according to an annual report released Friday by the Social Security trustees.

1 year ago·Atlanta, United States

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Washington Times

Medicare, Social Security could fall short over next decade

The financial safety nets millions of older Americans rely on and millions of young people are counting on will run short of money to pay full benefits within the next decade, the annual Social Security and Medicare trustees report released Friday warns.

1 year ago·United States

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