FINANCIAL TIMES: The financial health of Medicare and Social Security is deteriorating faster than expected, according to a report that will fuel the political battle over fiscal policy and the debt limit.
The trustees of the two government health and pensions schemes for elderly Americans forecast on Friday that Medicare will exhaust its funds in 2024, five years earlier than predicted, while Social Security will be insolvent in 2036, one year sooner than thought.
The new projections – largely the result of the slow economic recovery – came three days before the US was set to reach its debt ceiling of $14,300bn… (more)
