Here is what should be part of the president’s next budget. These are things very important to most Americans.
Trust Fund Solutions for Social Security, Medicare, and the Highway Trust Fund: Under current law, the Medicare Hospital Insurance trust fund will be insolvent by 2026, the Highway Trust Fund by 2027, the Social Security Old-Age and Survivors Insurance trust fund by 2033, and the Social Security Disability Insurance trust fund by 2057. These trust funds face combined cash deficits of $3.5 trillion over the next decade. To secure the health of our major trust funds, the President’s budget should put forward trust fund solutions to lower Medicare costs, slow the growth of Social Security, raise additional revenue for those programs, and close the highway trust fund shortfall. Thoughtful solutions would not only prevent abrupt across-the-board cuts upon insolvency, but also improve the programs themselves, accelerate economic growth, and improve our long-term fiscal outlook.Committee for a Responsible Federal Budget
Given Congress’s track record dealing with these trusts, there is not much hope. The trusts need more revenue, less spending or a combination of both, but nobody wants to explain that to us.