Social Security's Financial Health Worsens

Medicare

The Obama administration reported a significant deterioration in the financial outlook for Social Security on Monday, while stating that the financial condition of was stable but still unsustainable.

The Social Security trust fund will be exhausted in 2033, three years sooner than projected last year, the administration said. And Medicare’s hospital insurance trust fund will be depleted in 2024, the same as last year’s estimate, it said.

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Source: The New York Times