Benefit cuts loom

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News

June 18, 2018 - 11:00 PM

When we’re old and sick and poor, we might be forced to keep warm by burning all the government reports that we ignored, warning us that Social Security and Medicare are running out of money; the latest such report was issued recently.

According to the Social Security Administration, the Medicare trust fund will run dry in 2026 and Social Security funds in 2034. They will still be supported by payroll taxes, but those taxes will not cover full benefits, and recipients will likely experience severe benefit cuts if the funds aren’t replenished.

The implications are dire.

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