Social Security and Medicare are heading toward insolvency. Congress has 6 years to act
The Social Security Old Age and Survivors Insurance Trust Fund is projected to be exhausted by late 2032, and the Medicare Hospital Insurance Trust Fund by 2033. If these funds are depleted, Social Security benefits could face a 22% cut, and Medicare Part A reimbursements an 11% cut. To address this looming fiscal crisis, a bipartisan fiscal commission is proposed, modeled after the Fiscal Commission Act (H.R. 3289), to develop separate recommendations for Social Security solvency and broader budget sustainability. AI
