Funds Running Out Faster Than Expected for Social Security and Medicare Programs

The forecasts for Social Security and Medicare trust funds have worsened this past year under the weight of the recession, according to two new government reports released today by the programs' trustees. The trustees stated that the Social Security trust fund will run out by 2037, four years earlier than last year's report had predicted, while the Medicare hospital trust fund will be insolvent by 2017, two years earlier than projected last year. Government officials, led by Treasury...Full Story