This week, the Social Security and Medicare trustees delivered sobering news. The Medicare trust fund is projected to go bankrupt in 2026 — three years earlier than last year's estimate. The Social Security trust fund is headed toward bankruptcy by 2034.
Most Americans retiring into Social Security and Medicare this year will see these programs go bankrupt during their lifetime.
This looming bankruptcy is even more immediate than the trustees suggest. Social Security and Medicare's trust funds are already in deficit. Taxpayers already are repaying $3 trillion that had been raided from the Social Security trust fund decades earlier.
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