Program deficits are already escalating.
Last week, the Social Security and Medicare trustees revealed that the trust funds will cover full benefits until 2031 for Medicare, and 2033 for Social Security’s Old Age and Survivors Insurance (OASI) program. These insolvency dates, which had been estimated at 2028 and 2034 a year ago, feed the faulty assumption that Social Security and Medicare benefits are fully funded for the near future, and thus reform is less urgent.
Continue reading the entire piece here at the National Review Online
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Brian M. Riedl is a senior fellow at the Manhattan Institute. Follow him on Twitter here.
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