Medicare seen going bust in ’26

WASHINGTON — Medicare’s financial problems have gotten worse, and Social Security’s can’t be ignored forever, the government said Tuesday in an annual assessment that amounts to a sobering checkup on programs vital to the middle class.

The report from program trustees says Medicare will become insolvent in 2026 — three years earlier than previously forecast. Its giant trust fund for inpatient care won’t be able to cover projected medical bills starting at that point.

The report says Social Security will become insolvent in 2034 — no change from the projection last year.

More than 62 million retirees, disabled workers, spouses and surviving children receive Social Security benefits. Medicare provides health insurance for about 60 million people, most of whom are 65 or older.

President Trump campaigned on a promise that he wouldn’t cut Social Security or Medicare, but he hasn’t offered a rescue plan for either program. Democrats want to extend the social safety net by spending more on health care and education. But government deficits keep rising, and the recent Republican tax-cut bill is only expected to add to the debt.