News

The New York Times (6/5, Pear, Subscription Publication) reports that on Tuesday, the Trump Administration said the "financial outlook for Medicare's Hospital Insurance Trust Fund deteriorated in the last year, and Social Security still faces serious long-term financial problems."  These are the first estimates released since President Trump signed the tax reform law last year.  Data indicates the "Medicare trust fund will be depleted in 2026," three years sooner than last year's prediction.  Meanwhile, "federal officials said the Social Security Trust Funds for old-age benefits and disability insurance, taken together, could be depleted in 2034, the same year projected in last year's report."