Social Security trust fund to be exhausted by 2035 and Medicare in 2036, trustees project

The Medicare trust fund will be exhausted in 2036, and the combined Social Security trust fund will become exhausted in 2035, the programs’ trustees projected on Monday.

The report illustrates the long-term problems facing the entitlement programs, on which tens of millions of people rely. Nevertheless, it contained good news in that the deadlines have been moved back a bit from last year’s projections.

The extended timeline gives a bit more breathing room to Congress, where the looming depletion of the trust fund has become a top political issue. Both President Joe Biden and former President Donald Trump have vowed not to cut the popular entitlement benefits for seniors.

Still, the fact that the dates are still just over a decade away is another reminder of the fiscal cliffs that are looming large and the need for lawmakers to craft a plan to keep the programs solvent.