Social Security Insolvent By 2034

Social Security and Medicare are inching slowly toward insolvency, according to annual trustees reports on the entitlement programs released Wednesday. Social Security’s retirement and disability trust funds, combined, are on track for insolvency in 2034, which is one year later than the entitlement program’s trustees predicted one year ago. The trustees warned, however, that the Social Security Disability Insurance Trust Fund is still on track to run dry by late 2016. If Congress does not act to close that shortfall, the trustees estimate that the fund would only be able to pay out 81 percent of benefit/ The Hill . More here .

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