Any Minute Now....
The Social Security and Medicare Trustees have signed off on their respective reports on the financial projections for the two programs, though we continue to wait for the Social Security report to be posted reports online.
According to the Social Security Administration, Social Security faces a 75-year deficit of 2.67 percent of payroll and its trust funds will be exhausted by 2033. The Medicare Part A trust fund, meanwhile, will run out of money by 2024, and the Social Security disability program will exhaust its trust fund by 2016. The Medicare Trustees report can be read here.
We will have a fuller analysis of the Social Security report in a paper later today and a long blog tomorrow on the Medicare report. Once it comes out, you will be able to read the Social Security report here.