Report: Americans will stop getting Social Security benefits in 13 years unless Congress acts
The outlook is even worse for Medicare.
LANSING, Mich. (WILX) - Dwindling Social Security payments could be less than 15 years away. In their annual report, Social Security and Medicare trustees say Americans will stop getting full Social Security benefits in about 13 years if Congress doesn’t act.
The combined Social Security trust funds which help support payouts for the elderly and disabled are projected to run dry in 2035.
The outlook is even worse for Medicare. Its hospital insurance trust fund, known as ‘Medicare Part A,’ will only be able to pay scheduled benefits until 2028.
The solvency of Social Security has been a concern for decades.
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