Here are some facts to rebuff all your Communist "friends and family" who will be going crazy about Pres. Trump's proposal to cut Social Security and Medicare. Trump must have actually read the SS Trustees report that says both SS and Medicare are going to go broke within 10 years. The Trustees have been warning about this since the mid 1990's. It's not like it's a surprise. Here is a key paragraph from the 2019 report:
"Social Security’s total cost is projected to exceed its total income (including interest) in 2020 for the first time since 1982, and to remain higher throughout the remainder of the projection period. Social Security’s cost will be financed with a combination of non-interest income, interest income, and net redemptions of trust fund asset reserves from the General Fund of the Treasury until 2035 when the OASDI reserves will become depleted. Thereafter, scheduled tax income is projected to be sufficient to pay about three-quarters of scheduled benefits through the end of the projection period in 2093. The ratio of reserves to one year’s projected cost (the combined trust fund ratio) peaked in 2008, generally declined through 2018, and is expected to decline steadily until the trust fund reserves are depleted in 2035."
Here is the link to the full report: https://www.ssa.gov/oact/TRSUM/index.html
