News Headlines Article

Social Security, Medicare still face big challenge
San Francisco Chronicle

As the U.S. recovery slowly gathers steam, federal deficits are finally coming down from their nosebleed $1 trillion-plus heights. That will postpone until fall a new budget showdown between Congress and the White House — and also will probably delay the days of reckoning, feared by millions of aging Americans, when Social Security and Medicare could become insolvent. Why does it matter? If those programs’ money dries up, benefits must be reduced.