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The report anticipates that in 2020 — for the first time since 1982 — the program’s total costs will exceed its total income.
Medicare faces significant financial challenges in future years because of rising healthcare spending and an aging population.
https://www.pgpf.org/analysis/2019/04/trustees-funding-challenges-threaten-medicare%E2%80%99s-future
“The economy is growing, but so is the federal deficit, and that’s highly unusual.” said Michael A. Peterson, CEO of the Peterson Foundation.
https://www.pgpf.org/press-release/2019/04/fci-press-release
The latest trustees reports make clear that Social Security and Medicare beneficiaries face substantial cuts in the near future unless policymakers take action to make these vital programs solvent.
The aging of the baby boom generation will boost the number of Americans age 65 and older.
The elderly population is growing rapidly and living longer.
https://www.pgpf.org/chart-archive/0045_elderly-population-trends
8 million people — roughly the population of Massachusetts — have student debt greater than $50,000.
The Administration uses rosy economic assumptions.
https://www.pgpf.org/chart-archive/0268_rosy_economic_assumptions