Medicare and Social Security are both in crisis as underfunding hits $175 TRILLION - almost double the economic output of every country on Earth

Medicare and Social Security are facing a substantial underfunding crisis, amounting to $175 trillion according to a recent report by the U.S. Treasury

By James Gordon For Dailymail.Com

Medicare and Social Security are in crisis and face significant challenges according a report from the U.S. Treasury Department which indicates the programs are both underfunded to the tune of a $175 trillion.

The report suggests that if the current trends continue the programs may not be around when the current generation of American children reach retirement age unless substantial changes are implemented. 

Projections suggest that Medicare and Social Security may struggle to meet full benefit obligations within the next decade, with factors like inflation and economic output adding strain due to insufficient funds coming in to support these programs. 

Medicare and Social Security are facing a substantial underfunding crisis, amounting to $175 trillion according to a recent report by the U.S. Treasury 

In a recent forecast, the Congressional Budget Office said the gap between outlays and revenues meant that cash reserves would be used up in a decade, forcing a reduction in payments to levels that matched incoming money

The latest projections from the CBO found that the current gap between the outlays from the funds and the revenue received- if continued over the next ten years- will cause the fund to officially hit zero

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