US Social Security & Medicare Outlook
Next year, the US Old Age and Survivors Insurance trust fund (OASI) for the first time since early 1980s will have a deficit of 13 billion dollars. According to the projections of the US Whitehouse Office of Management and Budget, by 2020 the deficit of the largest US retirement fund will deepen to $123 bln – the level never seen in history. Despite the expected surpluses in others social and Medicare funds, the US federal social security system as a whole will become insolvent in the next 5 years. Aggregate deficit of the US Social Security trust funds (OASI and the Disability Insurance funds) would amount $70 bln. by the 2020, and about $43 bln. counting Medicare trusts. Read more…