Since apparently no one else in Washington will tell the fiscal truth… alright, we will:
Yes, both programs are headed to Titanic-style insolvency. This is as certain as the sun rising in the east.
So when both Biden and Republicans both agree they won’t touch or reform these programs, what they are really saying to seniors is: we don’t care if they go bankrupt, we won’t fix them. Kids can kiss these programs goodbye.
Medicare’s trust fund runs out of money around 2028 and Social Security around 2034.
Social Security should immediately be converted into a system of 401k-type of personal accounts, and Medicare deductibles should be means-tested so that wealthier senior citizens are responsible for purchasing their own health insurance coverage.