Aging Workforce Strains Social Security, Medicare

Monday, 23 Apr 2012 06:29 AM

 

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink

WASHINGTON (AP) — An aging population and an economy that has been slow to rebound are straining the long-term finances of Social Security and Medicare, the government's two largest benefit programs.

Those problems will get new attention Monday when trustees who oversee the massive programs release their annual financial reports.

Medicare is in worse shape because of rising health care costs. But the trustees say both programs are on a path to insolvency.

Last year, the trustees projected the Medicare hospital insurance fund would run out of money in 2024. Social Security's retirement fund was projected to run dry in 2038. Last month, the Congressional Budget Office said the disability fund will be drained by in 2016 — two years earlier than last projected — because applications from people losing jobs have spiked.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Boehner's Christmas Carol Celebrates a GOP Congress

Thursday, 18 Dec 2014 23:15 PM

Republican House Speaker John Boehner put his own political spin on "a Christmas reading" on his YouTube page Thursday,  . . .

Dershowitz: Hollywood Should Have Followed Rushdie Example

Thursday, 18 Dec 2014 22:29 PM

Hollywood should have rallied around Sony Pictures and released "The Interview" jointly online, says Harvard law profess . . .

Army Pulls ROTC Job Posting Requiring Christian Candidates

Thursday, 18 Dec 2014 22:18 PM

The Army has pulled a job posting at an Illinois religious college that required leaders of its ROTC program to be Chris . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved