By Stephen Moore -
Democrats have made a living in recent times with political attack ads fallaciously accusing Republicans of secret plans to destroy Medicare and Social Security. In one famous TV ad, then-House Speaker Paul Ryan was depicted as shoving an elderly woman in a wheelchair off a cliff.
Well, Republicans may want to reprise that ad — and toss it back at Biden Democrats. New reports in recent days from the Congressional Budget Office and the Social Security trustees show both these programs running out of money much sooner than previously expected.
Under current law, Medicare goes into the red in 2026, and then over the next 10 years, the losses mount to half a trillion dollars. Soon thereafter, the system is insolvent and flat out of money to pay the bills. Social Security’s finances are almost as rickety. The trust fund starts running out of money in 2034, and the losses eventually eclipse $1 trillion.
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