America’s booming economy pushes back Medicare, Social Security ‘go-broke dates’ to the mid-2030s

Key Facts

The go-broke dates for Medicare and Social Security have been pushed back as an improving economy has contributed to changed projected depletion dates, according to the annual Social Security and Medicare trustees report Monday.
Congressional Budget Office report ing has stated that the biggest drivers of debt rising in relation to GDP are increasing interest costs and spending for Medicare and Social Security.
A March 2023 poll by The Associated Press-NORC Center for Public Affairs Research shows that most U.S. adults are opposed to proposals that would cut into Medicare or Social Security benefits, and a majority support raising taxes on the nation’s highest earners to keep Medicare running as is.
Nancy Altman, president of Social Security Works, an advocacy group for the social insurance program, said Monday’s report shows that “Congress should take action sooner rather than later to ensure that Social Security can pay full benefits for generations to come.”