Medicare and Social Security are on shaky ground
WASHINGTON -- The financial condition of the government's bedrock retirement programs for middle- and working-class Americans remains shaky, with Medicare pointed toward insolvency by 2026, according to a report Monday by the government's overseers of Medicare and Social Security.
The report is the latest update of the government's troubled fiscal picture. It lands in a capital that has proven chronically unable to address it. Trump has declared benefit cuts to the nation's signature retirement programs off limits and many Democratic presidential candidates are calling for expanding Medicare benefits rather than addressing the program's worsening finances.
Sanders also took the opportunity to criticize Democrats' calls to expand Medicare. She claimed such a step would amount to a"total government takeover of health care" that would cut out private-sector options, endanger access to health care for seniors and further strain the federal budget. Monday's report by three Cabinet heads and Social Security's acting commissioner, urges lawmakers to"take action sooner rather than later to address these shortfalls, so that a broader range of solutions can be considered and more time will be available to phase in changes while giving the public adequate time to prepare."
In a glimmer of good news, Social Security's disability program is now estimated to remain solvent for an additional 20 years, through 2052. Overall, however, Social Security would run out of reserves by 2035, one year later than projected in last year's report.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Five Republican Myths Employed at Recent Social Security HearingsRepublican members of Congress are cloaking their desire to cut Social Security in dulcet tones of bipartisanship. In doing so, they are spreading damaging myths about Social Security. Here is the truth regarding the following five claims pushed by Congressional Republicans in these hearings.
Read more »
One reason lawmakers are hesitant to fix Social Security: the millennialsMillennials have already been blamed for ruining department stores, the real estate industry and golf, and now there may be something else to add to the list: Social Security
Read more »
Social Security is headed for insolvency by 2035, government saysThe financial condition of the government's bedrock retirement programs for middle- and working-class Americans remains shaky
Read more »
Social Security won't be able to pay full benefits by 2035If Congress doesn't act soon, tens of millions of Americans will only receive about three-quarters of their Social Security benefits when they retire
Read more »
That expected Social Security shortfall won't stand in the way of expansion, advocates sayAs the annual trustees report warns of impending trouble if Congress doesn't act, advocates hope lawmakers take action to both strengthen the program's finances and expand its benefits.
Read more »
Social Security is running out of money, benefits on track to be reduced by 2035Social Security program running out of money, with benefits on track to be reduced by around 2035 unless Congress steps in, according to a report released by the Trump administration.
Read more »
Probable Misreporting Of Just-Released 2019 Social Security Trustees ReportThe just-released Trustees Report shows that Social Security has an accumulated surplus of roughly $2.9 trillion. It further shows that at the end of the century, it will cost just 6.07% of GDP.
Read more »
Surprise! Social Security has gotten healthierFor years, conservatives have claimed Social Security is on the path to insolvency. A new report shows it's actually gotten healthier in the last year. From columnist hiltzikm:
Read more »
Sri Lanka Blocked Social Media To Stop The Spread Of Fake News About The Easter BlastsThe Sri Lankan Government Blocked Social Media Fearing Disinformation Could Inflame Tensions
Read more »
‘Avengers: Endgame’ leaked footage prompts Marvel fans to leave social mediaSpoiler-heavy footage of Marvel’s “Avengers: Endgame” leaked online before its April 26 debut, causing some fans to retreat from social media.
Read more »