The Medicare hospital trust fund will be exhausted in 2031. The Hospital Insurance Trust Fund, which pays for inpatient care and hospital services for Medicare trustees, will be able to pay 100% of total scheduled benefits for eight more years.
tries to portray Republicans as seeking to cut entitlement benefits for seniors.
“Social Security and Medicare are two bedrock programs that older American rely upon for their retirement security,” Treasury Secretary Janet Yellen said. “The Biden-Harris Administration is committed to ensuring the long-term viability of these critical programs so that retirees can receive the hard-earned benefits they’re owed.”
Biden has sought to present himself as the defender of Social Security and Medicare, two of the main drivers of increased spending that account for more than a third of government payments.who is now running for another term, has also taken up the mantle of defending the entitlement programs. He has urged the GOP, which is pushing for sweeping spending cuts, to leave Medicare and Social Security alone and to back away from any plans to cut the popular programs.
Biden’s budget would make the program solvent for 25 years without cutting any of the program’s benefits.
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