Why it's hard for the US to cut or even control Medicare spending
Published in Health & Fitness
Its trustees anticipate that the Social Security trust fund will be depleted by 2035 without changes in funding, promised benefits – or both. In that event, Social Security benefits may have to fall by about 20% from anticipated levels.
Medicare and Social Security are the nation’s largest entitlement programs. Almost all Americans, if they live long enough, will eventually be eligible to obtain these benefits – regardless of their income or wealth.
While Americans do not yet agree on how to put these programs on a steadier fiscal footing, the math is clear.
Our elected representatives cannot avoid making hard decisions that involve increasing taxes, reducing benefits or both.
This article is republished from The Conversation, an independent nonprofit news site dedicated to sharing ideas from academic experts. Like this article? Subscribe to our weekly newsletter.
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Dennis W. Jansen does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Andrew Rettenmaier does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond his academic appointment.
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