American Action Forum experts have analyzed the latest Medicare and Social Security Trustees Reports, which were released today. The reports indicate that Medicare is projected to become insolvent in 2033, three years earlier than previously expected. Similarly, the Social Security Trust Funds are anticipated to run out of funds by 2034, a year ahead of last year’s projection.
The reports also highlight several key statistics. Medicare Part A recorded a deficit of $510.5 billion, with expenditures totaling $1.1 trillion against cash revenue of $611.6 billion. Over the next 75 years, it is estimated that Social Security will owe $25.1 trillion more than it is expected to collect.
