Social Security Funds Will Run Out Sooner Than Expected

nypost.com
Social Security funds will run out sooner than expected, feds warn "Social Security will need to cut benefits starting in 2034... Medicare is still expected to exhaust its reserves in 2026."

ssa.gov
Social Security Board of Trustees: Combined Trust Funds Projected Depletion One Year Sooner Than Last Year PRESS RELEASE: "If Congress does not act before 2034 there would be sufficient income coming in to pay 78 percent of scheduled benefits... Social Security paid benefits of $1.096 trillion in calendar year 2020. There were about 65 million beneficiaries at the end of the calendar year."

SSA Trustees Report- "The Hospital Insurance (HI) Trust Fund, or Medicare Part A, which helps pay for services such as inpatient hospital care, will be able to pay scheduled benefits until 2026, the same year as reported last year. At that time, the fund's reserves will become depleted and continuing total program income will be sufficient to pay 91 percent of total scheduled benefits...

Lawmakers have many policy options that would reduce or eliminate the long-term financing shortfalls in Social Security and Medicare. Lawmakers should address these financial challenges as soon as possible. Taking action sooner rather than later will permit consideration of a broader range of solutions and provide more time to phase in changes so that the public has adequate time to prepare."

Indeed there are measures congress could take. However given the current political climate, will they in time?