The U.S. has updated its Social Security estimates. Here’s what you need to know. 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 the annual Social Security and Medicare trustees report released Monday, May 6, 2024. O'Malley called the report "a measure of good news," but said, "Congress still needs to act in order to avoid what is now forecast to be, in absence of their action, a 17% cut to people's Social Security benefits."
Dire new budget longer term projections and high-stakes policy deadlines mean lawmakers may be forced to take up the issue — or face the consequences of inaction.
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