(The Hill) Medicare’s main trust fund will run dry by 2028, two years earlier than previous estimates, according to a review released Wednesday by the Obama administration.
The Social Security trust fund will run dry by 2034, the same as expected last year.
Both programs, which made up about 40 percent of federal spending in 2015, face major solvency concerns in the next two decades, officials warned Wednesday.
“Medicare faces a substantial, long-term shortfall that needs to be addressed,” Treasury Secretary Jack Lew told reporters.
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