Medicare, Social Security Face Shaky Fiscal Futures
If Congress doesn't act, both programs would eventually be unable to cover the full cost of promised benefits.
This article was republished here with permission from The Associated Press, however it is no longer available to read on Snopes.com.
WASHINGTON (AP) — 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. It paints a sobering picture of the programs, though it’s relatively unchanged from last year’s update. Social Security would become insolvent in 2035, one year later than previously estimated. Both programs will need to eventually…