By Stephen Dinan.
Social Security will spend more than it collects this year, the program’s trustees said Tuesday, marking the first time in more than 35 years that it will run an annual deficit as it slides toward insolvency by 2034.
Medicare’s main trust fund is in even worse shape, scheduled to hit insolvency in 2026 — three years earlier than last year’s estimate, the trustees said. . . .
“It would be a nice change if this year Congress and the president actually took these warnings seriously enough to do something,” said Robert L. Bixby, executive director of the Concord Coalition.