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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
Since early 2010, total student loan debt has consistently outpaced other non-mortgage household debt.
https://www.pgpf.org/chart-archive/0267_student_debt_outpacing_others
Student debt rose to nearly $1.5 trillion in 2018.
https://www.pgpf.org/chart-archive/0266_student_debt_is_rising
General revenue — not the Medicare payroll tax — is now the largest source of Medicare’s financing.
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 homeownership rate for young adult households has declined
https://www.pgpf.org/chart-archive/0227_young_adult_home_own
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
