Skip to comments.Trustees report warns Medicare finances worsening
Posted on 06/05/2018 10:15:12 PM PDT by Olog-hai
Medicare will run out of money sooner than expected, and Social Securitys financial problems cant 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 wont 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 Medicares finances, officials said the Trump administration will be required by law to send Congress a plan next year to address the problems, after the presidents budget is submitted.
Treasury Secretary Steven Mnuchin said in a statement that theres time to fix the problems. The programs remain secure, Mnuchin said. Medicare is on track to meet its obligations to beneficiaries well into the next decade.
However, certain long-term issues persist, the statement added. Lack-luster economic growth in previous years, coupled with an aging population, has contributed to the projected shortages for both Social Security and Medicare.
(Excerpt) Read more at apnews.com ...
Ageing population my a**. As many
sad to say die in direct correlation
with those retires that receive.
The huge drain on our worked for
benefits, are given away to illegals
and welfare lazy bums. Those with
disabilities (at least in my case),
have to jump thru all the hoops, and
wait up to 12 months to receive SSDI.
I paid 46 years into this system,
I expect to get out of it, what was
forced on me. Social Security is not
supposed to be an entitlement, it’s
supposed to be earned.
That call those of us that collect or expect to collect on all the years we payed into the system.........leaches on those working now. My response to them F' OFF.
Wonder what GDP growth estimate they used. If it’s less than 3% this is Fake News.
Not that there’s any good news on these hoaxes...
it’s easy to dislike socialism when you’re not getting the gibs...
I hate socialism, and I am getting
Medicare for all
What would be neat is if they tried to explain that the Trust Fund is actually government debt already.
“Drawing from the Trust Fund” just means issuing new US Treasury bonds to the public to replace the non-marketable Treasury bonds in the Trust fund. Those bonds are an asset for the retirees, but for the government and taxpayers they are already a liability and will add to the need to sell more and more bonds in coming years to fund the deficits.
“will become insolvent” LOL!
Socialism is Legal Plunder - “The Law”’ Frederic Bastiat
Ponzi schemes always fail. It’s like trying to haul two tons of canaries in a one-ton truck. You constantly have to keep one ton of the birds flying and eventually it proves to be impossible.
And won't be gibs until the Feds allow people to invest their money where they want for retirement and people are bled out of the current system.
You can call it whatever you want but as long as people don't have a choice it's the only game to play and if you played by the rules you deserve the payout.
Due to improvements in medical technology, if youre at retirement age, the amount you paid in to Medicare via the 3% payroll tax is going to be far far less than any intensive care you may receive under Medicare. You paid something far less than what medical care costs today.
I'm done, go play with someone else.
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