Summary
A new survey shows that about 40% of Americans doubt Social Security and Medicare will exist in the next decade. Financial pressures threaten these programs, with funds expected to deplete in the next 10-11 years unless Congress makes changes. Younger people express more concern about the programs' future compared to older individuals.
Key Facts
- About 110 million U.S. adults (40% of the population) believe Social Security and Medicare may not last another 10 years.
- The survey was conducted by West Health–Gallup Center, involving nearly 20,000 participants from all U.S. states.
- The Social Security trust funds might run out by 2034, potentially causing a 21% cut in benefits without Congressional action.
- Medicare's Hospital Insurance fund could be depleted by 2033, potentially reducing coverage to 89% of scheduled care.
- Younger Americans, especially those under 50, are more worried about these programs disappearing.
- Political views affect confidence, with Republicans generally more optimistic than Democrats about the programs’ longevity.
- A majority of current Medicare and Social Security recipients find these programs very important for their healthcare and finances.
- Concerns have increased, with about 60% of adults more worried about changes to these programs than they were a year ago.
