Medicare & Social Security Trustees Reports Shortfall Projections—2028 For Medicare & 2035 For Social Security

The Social Security and Medicare Boards of Trustees, the U.S. Department of the Treasury, and other government entities, have projected that Medicare will go bankrupt in 2028, and the Social Security Trust Funds will go bankrupt in 2035. The projection for Medicare is two years later than the previous projections, and the projection for Social Security is one year later than previous projections.

At the end of 2021, Social Security’s trust fund reserves were $2,852 billion, having decreased by $56 billion over the year. Over the next 75 years, Social Security will owe $20.4 trillion more . . .