Social Security, Medicare insolvency dates move up to 2033

Stephen Dinan, Washington Times

The main trust funds for Social Security and Medicare will run out of money in 2033, and

the government will have to slash benefits at that point, the programs’ trustees said in the latest warning about the nation’s most extensive social welfare safety net. That timetable marks a significant worsening for Medicare. A year ago, its Hospital Insurance Trust Fund was expected to last through 2036. Social Security’s depletion date ticked forward less than a year, but the trustees said it was also in worse shape than last year.