A recent report found Medicare won’t be able to pay its debts starting in 2026. For Social Security, it won’t happen until 2034.
Many people planning for retirement expect to get some help from Social Security, but with funds running out, lawmakers have looked at ways to try and save it.
Republicans have proposed ideas, which include cutting benefits or raising the retirement age. However, the party admits that both options are a tough sell.
Democrats have pushed another option: asking the wealthy to pay a little bit more.
However, while on the campaign trail in 2015, President Donald Trump has repeatedly pledged not to touch Social Security.
“Save Medicare, Medicaid and Social Security without cuts,” Trump said at a rally in April 2015. “Have to do it. Get rid of the fraud, get rid of the waste and abuse but save it.”
He's made the same promise as president, including just last month.
Despite solutions suggested by both Republicans and Democrats, Social Security's problems remain unsolved.
