{"id":1908792,"date":"2023-04-02T09:12:33","date_gmt":"2023-04-02T13:12:33","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/social-security-is-going-to-run-out-of-money-sooner-than-thought\/"},"modified":"2023-04-02T09:14:42","modified_gmt":"2023-04-02T13:14:42","slug":"social-security-is-going-to-run-out-of-money-sooner-than-thought","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/social-security-is-going-to-run-out-of-money-sooner-than-thought\/","title":{"rendered":"Social Security Is Going to Run Out of Money Sooner Than Thought"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsocial-security-is-going-to-run-out-of-money-sooner-than-thought%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1908792&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"article-body\"><!----> <!----> <\/p>\n<div class=\"featured featured-video video-ct\">\n<div class=\"contain\">\n<div class=\"control\"><a href=\"http:\/\/bonginoreport.com\/#\" aria-label=\"top\" class=\"top\"><\/a> <a href=\"http:\/\/bonginoreport.com\/#\" class=\"close\">close<\/a><\/div>\n<div class=\"video-container\">\n<div data-video-id=\"6323094954112\" data-video-domain=\"foxbusiness\" class=\"m video-player\" data-embed-uid=\"fnc-embed-1\">\n<div class=\"video-container\"><iframe aria-label=\"MVPD Picker\" src=\"\/\/static.foxnews.com\/static\/orion\/html\/video\/iframe\/vod.html?v=20230331003021#uid=fnc-embed-1&#038;url=www.foxbusiness.com%2Feconomy%2Fsocial-security-faces-insolvency-2033-one-year-sooner-previously-expected\" border=\"0\" frameborder=\"0\" allow=\"autoplay\" scrolling=\"no\" style=\"width: 100%; height: 1px; min-height: 100%;\" referrerpolicy=\"no-referrer-when-downgrade\" mozallowfullscreen=\"\" webkitallowfullscreen=\"\" allowfullscreen=\"\"><\/iframe><\/div>\n<\/div>\n<\/div>\n<div class=\"info\">\n<div class=\"caption\">\n<h2 class=\"title\"><a href=\"http:\/\/video.foxbusiness.com\/v\/6323094954112\">Rep. Ro Khanna details his proposal to make social security solvent <\/a><\/h2>\n<p>Rep. Ro Khanna, R-Calif., discusses the Los Angeles school strike, fallout from Silicon Valley Bank and his proposal to make social security solvent.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>The <a href=\"https:\/\/foxbusiness.com\/category\/social-security\" target=\"_blank\" rel=\"noopener\">Social Security retirement fund<\/a> could run out of money as soon as 2033, a year earlier than previously projected, according to a new government report released Friday.<\/p>\n<div class=\"ad-container tablet ad-h-50 ad-w-300\">\n<div class=\"ad gam\" id=\"tw-ad-lb2\" data-google-query-id=\"CL39_r2ji_4CFdQDaAgd7koDSg\" data-ad-slot-rendered=\"1\" data-rendered-size=\"728x90\">\n<div id=\"google_ads_iframe_\/4145\/fbn\/tw\/art\/econ\/lb2_0__container__\" style=\"border: 0pt none;\"><iframe id=\"google_ads_iframe_\/4145\/fbn\/tw\/art\/econ\/lb2_0\" name=\"google_ads_iframe_\/4145\/fbn\/tw\/art\/econ\/lb2_0\" title=\"3rd party ad content\" width=\"728\" height=\"90\" scrolling=\"no\" marginwidth=\"0\" marginheight=\"0\" frameborder=\"0\" role=\"region\" aria-label=\"Advertisement\" tabindex=\"0\" style=\"border: 0px; vertical-align: bottom;\" data-load-complete=\"true\" data-google-container-id=\"2\"><\/iframe><\/div>\n<\/div>\n<\/div>\n<div class=\"ad-container mobile ad-h-250 ad-w-300 ad-placeholder-load\">\n<div data-iu=\"ban1\" id=\"mobile-mw-ad-ban1\" class=\"ad gam inline\"><\/div>\n<p><script>       window.foxstrike = window.foxstrike || {}       window.foxstrike.cmd = window.foxstrike.cmd || []        window.foxstrike.cmd.push(function(Strike) {         Strike.insertAd('mobile', 'ban1', 'mobile-mw-ad-ban1');       })       <\/script><\/div>\n<p>The acceleration toward insolvency is largely the result of a 3% downward revision of gross domestic product and labor productivity over the next decade, findings from the Social Security and Medicare Trustees report show.<\/p>\n<p>Unless major changes are made before 2034 to shore up the entitlement program, more than 66 million Americans would see a benefit reduction between about 23% to 25%.<\/p>\n<p><a href=\"https:\/\/foxbusiness.com\/economy\/us-national-debt-pace-gdp-2050-penn-wharton-says\" target=\"_blank\" rel=\"noopener\"><strong><u>US NATIONAL DEBT ON PACE TO BE 225% OF GDP BY 2050, PENN WHARTON SAYS<\/u><\/strong><\/a><\/p>\n<div class=\"ad-container mobile ad-h-250 ad-w-300 ad-placeholder-load\">\n<div data-iu=\"ban2\" id=\"mobile-mw-ad-ban2\" class=\"ad gam inline\" data-ad-lz=\"1\"><\/div>\n<p><script>       window.foxstrike = window.foxstrike || {}       window.foxstrike.cmd = window.foxstrike.cmd || []        window.foxstrike.cmd.push(function(Strike) {         Strike.insertAd('mobile', 'ban2', 'mobile-mw-ad-ban2');       })       <\/script><\/div>\n<div class=\"inline image-ct\">\n<div class=\"m\"><picture><source media=\"(max-width: 767px)\" ><source media=\"(min-width: 768px) and (max-width: 1023px)\" ><source media=\"(min-width: 1024px) and (max-width: 1279px)\" ><source media=\"(min-width: 1280px)\" ><\/picture><\/div>\n<div class=\"caption\">\n<p><span>In this photo illustration, a Social Security card sits alongside checks from the U.S. Treasury on October 14, 2021 in Washington, DC.\u00a0<\/span><span> (Kevin Dietsch\/Getty Images \/ Getty Images)<\/span><\/p>\n<\/div>\n<\/div>\n<p>Medicare, meanwhile, faces an even greater financial shortfall in the coming years: The report showed that Medicares&#8217;s hospital insurance trust fund \u2013 which is known as Part A and helps to cover inpatient hospital stays \u2013 will only be able to pay scheduled benefits in full until 2031, according to the report. That is three years later than the trustees previously projected.<\/p>\n<div class=\"ad-container tablet ad-h-50 ad-w-300\">\n<div class=\"ad gam\" id=\"tw-ad-lb3\" data-ad-lz=\"1\"><\/div>\n<\/div>\n<div data-unit-credible=\",,\" data-in-article=\"true\" class=\"credible\"><\/div>\n<p>At that point, the fund&#8217;s reserves will &#8220;become depleted and continuing program income will be sufficient to pay 89 percent of total scheduled benefits,&#8221; the report said. It could result in an 11% pay reduction to health care providers.<\/p>\n<p><a href=\"https:\/\/www.foxbusiness.com\/politics\/biden-proposes-tax-hike-americans-making-fund-medicare\" target=\"_blank\" rel=\"noopener\"><strong>BIDEN PROPOSES TAX HIKE ON AMERICANS MAKING OVER $400,000 TO FUND MEDICARE<\/strong><\/a><\/p>\n<div class=\"ad-container mobile ad-h-250 ad-w-300 ad-placeholder-load\">\n<div data-iu=\"ban3\" id=\"mobile-mw-ad-ban3\" class=\"ad gam inline\" data-ad-lz=\"1\"><\/div>\n<p><script>       window.foxstrike = window.foxstrike || {}       window.foxstrike.cmd = window.foxstrike.cmd || []        window.foxstrike.cmd.push(function(Strike) {         Strike.insertAd('mobile', 'ban3', 'mobile-mw-ad-ban3');       })       <\/script><\/div>\n<p><a href=\"https:\/\/foxbusiness.com\/category\/janet-yellen\" target=\"_blank\" rel=\"noopener\">Treasury Secretary Janet Yellen<\/a>, who leads the trustee, emphasized the need to bolster both the Medicare and Social Security funds.<\/p>\n<div class=\"inline image-ct\">\n<div class=\"m\"><picture><source media=\"(max-width: 767px)\" ><source media=\"(min-width: 768px) and (max-width: 1023px)\" ><source media=\"(min-width: 1024px) and (max-width: 1279px)\" ><source media=\"(min-width: 1280px)\" ><\/picture><\/div>\n<div class=\"caption\">\n<p><span>\u00a0U.S. Treasury Secretary Janet Yellen testifies about the Biden Administration&#8217;s FY2024 federal budget proposal before the Senate Finance Committee in the Dirksen Senate Office Building on Capitol Hill on March 16, 2023 in Washington, DC.<\/span><span> (Chip Somodevilla\/Getty Images \/ Getty Images)<\/span><\/p>\n<\/div>\n<\/div>\n<p>&#8220;Social Security and Medicare are two bedrock programs that older American rely upon for their retirement security,&#8221; she said in a statement. &#8220;The Biden-Harris Administration is committed to ensuring the long-term viability of these critical programs so that retirees can receive the hard-earned benefits they\u2019re owed.&#8221;<\/p>\n<div class=\"ad-container tablet ad-h-50 ad-w-300\">\n<div class=\"ad gam\" id=\"tw-ad-lb4\" data-ad-lz=\"1\"><\/div>\n<\/div>\n<p>The future of the program has emerged as a contentious issue between Republicans and Democrats, after Presidnet Biden accused GOP lawmakers of wanting to slash funding for Medicare and Social Security during his <a href=\"https:\/\/www.foxbusiness.com\/politics\/biden-touts-manufacturing-jobs-industry-state-of-the-union-address\" target=\"_blank\" rel=\"noopener\"><u>State of the Union Address.<\/u><\/a><\/p>\n<div class=\"ad-container mobile ad-h-250 ad-w-300 ad-placeholder-load\">\n<div data-iu=\"ban4\" id=\"mobile-mw-ad-ban4\" class=\"ad gam inline\" data-ad-lz=\"1\"><\/div>\n<p><script>       window.foxstrike = window.foxstrike || {}       window.foxstrike.cmd = window.foxstrike.cmd || []        window.foxstrike.cmd.push(function(Strike) {         Strike.insertAd('mobile', 'ban4', 'mobile-mw-ad-ban4');       })       <\/script><\/div>\n<p>Republicans have repeatedly <a href=\"https:\/\/foxbusiness.com\/politics\/republican-lawmakers-push-back-biden-says-gop-wants-cut-social-security-medicare\" target=\"_blank\" rel=\"noopener\"><u>pushed back on that assertion,<\/u><\/a> insisting they do not want to cut funding for either of the entitlement programs.\u00a0<\/p>\n<div class=\"inline image-ct\">\n<div class=\"m\"><picture><source media=\"(max-width: 767px)\" ><source media=\"(min-width: 768px) and (max-width: 1023px)\" ><source media=\"(min-width: 1024px) and (max-width: 1279px)\" ><source media=\"(min-width: 1280px)\" ><\/picture><\/div>\n<div class=\"caption\">\n<p><span>People walk outside the U.S Capitol building in Washington, June 9, 2022.<\/span><span> (AP Photo\/Patrick Semansky, File \/ AP Newsroom)<\/span><\/p>\n<\/div>\n<\/div>\n<p>Biden proposed raising Medicare taxes from 3.8% to 5% on annual income above $400,00 in his budget proposal earlier this month. He also floated closing a loophole used by business owners and higher-earners to shield some of their income from additional taxes.<\/p>\n<p>The White House estimated the floated changes would extend the Medicare trust fund by an additional 25 years, &#8220;beyond 2050.&#8221;\u00a0<\/p>\n<div class=\"ad-container tablet ad-h-50 ad-w-300\">\n<div class=\"ad gam\" id=\"tw-ad-lb5\" data-ad-lz=\"1\"><\/div>\n<\/div>\n<div class=\"ad-container mobile ad-h-250 ad-w-300 ad-placeholder-load\">\n<div data-iu=\"ban5\" id=\"mobile-mw-ad-ban5\" class=\"ad gam inline\" data-ad-lz=\"1\"><\/div>\n<p><script>       window.foxstrike = window.foxstrike || {}       window.foxstrike.cmd = window.foxstrike.cmd || []        window.foxstrike.cmd.push(function(Strike) {         Strike.insertAd('mobile', 'ban5', 'mobile-mw-ad-ban5');       })       <\/script><\/div>\n<p><a href=\"https:\/\/www.foxbusiness.com\/apps-products\" target=\"_blank\" rel=\"noopener\"><strong><u>GET FOX BUSINESS ON THE GO BY CLICKING HERE<\/u><\/strong><\/a><\/p>\n<p>The proposals are unlikely to garner much <a href=\"https:\/\/foxbusiness.com\/category\/congress\" target=\"_blank\" rel=\"noopener\"><u>support in a deeply divided Congress<\/u><\/a>, and face almost certain rejection from Republicans who won control of the House last year.<\/p>\n<p>The president did not address the looming Social Security insolvency in his budget.<\/p>\n<div class=\"ad-container mobile ad-h-250 ad-w-300 ad-placeholder-load\">\n<div data-iu=\"ban6\" id=\"mobile-mw-ad-ban6\" class=\"ad gam inline\" data-ad-lz=\"1\"><\/div>\n<p><script>       window.foxstrike = window.foxstrike || {}       window.foxstrike.cmd = window.foxstrike.cmd || []        window.foxstrike.cmd.push(function(Strike) {         Strike.insertAd('mobile', 'ban6', 'mobile-mw-ad-ban6');       })       <\/script><\/div>\n<\/div>\n<div class=\"article-body\"><!----> <!----> <\/p>\n<div class=\"featured featured-video video-ct\">\n<div class=\"contain\">\n<div class=\"control\"><a href=\"http:\/\/bonginoreport.com\/#\" aria-label=\"top\" class=\"top\"><\/a> <a href=\"http:\/\/bonginoreport.com\/#\" class=\"close\">close<\/a><\/div>\n<div class=\"video-container\">\n<div data-video-id=\"6323094954112\" data-video-domain=\"foxbusiness\" class=\"m video-player\" data-embed-uid=\"fnc-embed-1\">\n<div class=\"video-container\"><iframe aria-label=\"MVPD Picker\" src=\"\/\/static.foxnews.com\/static\/orion\/html\/video\/iframe\/vod.html?v=20230331003021#uid=fnc-embed-1&#038;url=www.foxbusiness.com%2Feconomy%2Fsocial-security-faces-insolvency-2033-one-year-sooner-previously-expected\" border=\"0\" frameborder=\"0\" allow=\"autoplay\" scrolling=\"no\" style=\"width: 100%; height: 1px; min-height: 100%;\" referrerpolicy=\"no-referrer-when-downgrade\" mozallowfullscreen=\"\" webkitallowfullscreen=\"\" allowfullscreen=\"\"><\/iframe><\/div>\n<\/div>\n<\/div>\n<div class=\"info\">\n<div class=\"caption\">\n<h2 class=\"title\"><a href=\"http:\/\/video.foxbusiness.com\/v\/6323094954112\">Rep. Ro Khanna details his proposal to make social security solvent <\/a><\/h2>\n<p>Rep. Ro Khanna, R-Calif., discusses the Los Angeles school strike, fallout from Silicon Valley Bank and his proposal to make social security solvent.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>The <a href=\"https:\/\/foxbusiness.com\/category\/social-security\" target=\"_blank\" rel=\"noopener\">Social Security retirement fund<\/a> could run out of money as soon as 2033, a year earlier than previously projected, according to a new government report released Friday.<\/p>\n<div class=\"ad-container tablet ad-h-50 ad-w-300\">\n<div class=\"ad gam\" id=\"tw-ad-lb2\" data-google-query-id=\"CL39_r2ji_4CFdQDaAgd7koDSg\" data-ad-slot-rendered=\"1\" data-rendered-size=\"728x90\">\n<div id=\"google_ads_iframe_\/4145\/fbn\/tw\/art\/econ\/lb2_0__container__\" style=\"border: 0pt none;\"><iframe id=\"google_ads_iframe_\/4145\/fbn\/tw\/art\/econ\/lb2_0\" name=\"google_ads_iframe_\/4145\/fbn\/tw\/art\/econ\/lb2_0\" title=\"3rd party ad content\" width=\"728\" height=\"90\" scrolling=\"no\" marginwidth=\"0\" marginheight=\"0\" frameborder=\"0\" role=\"region\" aria-label=\"Advertisement\" tabindex=\"0\" style=\"border: 0px; vertical-align: bottom;\" data-load-complete=\"true\" data-google-container-id=\"2\"><\/iframe><\/div>\n<\/div>\n<\/div>\n<div class=\"ad-container mobile ad-h-250 ad-w-300 ad-placeholder-load\">\n<div data-iu=\"ban1\" id=\"mobile-mw-ad-ban1\" class=\"ad gam inline\"><\/div>\n<p><script>       window.foxstrike = window.foxstrike || {}       window.foxstrike.cmd = window.foxstrike.cmd || []        window.foxstrike.cmd.push(function(Strike) {         Strike.insertAd('mobile', 'ban1', 'mobile-mw-ad-ban1');       })       <\/script><\/div>\n<p>The acceleration toward insolvency is largely the result of a 3% downward revision of gross domestic product and labor productivity over the next decade, findings from the Social Security and Medicare Trustees report show.<\/p>\n<p>Unless major changes are made before 2034 to shore up the entitlement program, more than 66 million Americans would see a benefit reduction between about 23% to 25%.<\/p>\n<p><a href=\"https:\/\/foxbusiness.com\/economy\/us-national-debt-pace-gdp-2050-penn-wharton-says\" target=\"_blank\" rel=\"noopener\"><strong><u>US NATIONAL DEBT ON PACE TO BE 225% OF GDP BY 2050, PENN WHARTON SAYS<\/u><\/strong><\/a><\/p>\n<div class=\"ad-container mobile ad-h-250 ad-w-300 ad-placeholder-load\">\n<div data-iu=\"ban2\" id=\"mobile-mw-ad-ban2\" class=\"ad gam inline\" data-ad-lz=\"1\"><\/div>\n<p><script>       window.foxstrike = window.foxstrike || {}       window.foxstrike.cmd = window.foxstrike.cmd || []        window.foxstrike.cmd.push(function(Strike) {         Strike.insertAd('mobile', 'ban2', 'mobile-mw-ad-ban2');       })       <\/script><\/div>\n<div class=\"inline image-ct\">\n<div class=\"m\"><picture><source media=\"(max-width: 767px)\" ><source media=\"(min-width: 768px) and (max-width: 1023px)\" ><source media=\"(min-width: 1024px) and (max-width: 1279px)\" ><source media=\"(min-width: 1280px)\" ><\/picture><\/div>\n<div class=\"caption\">\n<p><span>In this photo illustration, a Social Security card sits alongside checks from the U.S. Treasury on October 14, 2021 in Washington, DC.\u00a0<\/span><span> (Kevin Dietsch\/Getty Images \/ Getty Images)<\/span><\/p>\n<\/div>\n<\/div>\n<p>Medicare, meanwhile, faces an even greater financial shortfall in the coming years: The report showed that Medicares&#8217;s hospital insurance trust fund \u2013 which is known as Part A and helps to cover inpatient hospital stays \u2013 will only be able to pay scheduled benefits in full until 2031, according to the report. That is three years later than the trustees previously projected.<\/p>\n<div class=\"ad-container tablet ad-h-50 ad-w-300\">\n<div class=\"ad gam\" id=\"tw-ad-lb3\" data-ad-lz=\"1\"><\/div>\n<\/div>\n<div data-unit-credible=\",,\" data-in-article=\"true\" class=\"credible\"><\/div>\n<p>At that point, the fund&#8217;s reserves will &#8220;become depleted and continuing program income will be sufficient to pay 89 percent of total scheduled benefits,&#8221; the report said. It could result in an 11% pay reduction to health care providers.<\/p>\n<p><a href=\"https:\/\/www.foxbusiness.com\/politics\/biden-proposes-tax-hike-americans-making-fund-medicare\" target=\"_blank\" rel=\"noopener\"><strong>BIDEN PROPOSES TAX HIKE ON AMERICANS MAKING OVER $400,000 TO FUND MEDICARE<\/strong><\/a><\/p>\n<div class=\"ad-container mobile ad-h-250 ad-w-300 ad-placeholder-load\">\n<div data-iu=\"ban3\" id=\"mobile-mw-ad-ban3\" class=\"ad gam inline\" data-ad-lz=\"1\"><\/div>\n<p><script>       window.foxstrike = window.foxstrike || {}       window.foxstrike.cmd = window.foxstrike.cmd || []        window.foxstrike.cmd.push(function(Strike) {         Strike.insertAd('mobile', 'ban3', 'mobile-mw-ad-ban3');       })       <\/script><\/div>\n<p><a href=\"https:\/\/foxbusiness.com\/category\/janet-yellen\" target=\"_blank\" rel=\"noopener\">Treasury Secretary Janet Yellen<\/a>, who leads the trustee, emphasized the need to bolster both the Medicare and Social Security funds.<\/p>\n<div class=\"inline image-ct\">\n<div class=\"m\"><picture><source media=\"(max-width: 767px)\" ><source media=\"(min-width: 768px) and (max-width: 1023px)\" ><source media=\"(min-width: 1024px) and (max-width: 1279px)\" ><source media=\"(min-width: 1280px)\" ><\/picture><\/div>\n<div class=\"caption\">\n<p><span>\u00a0U.S. Treasury Secretary Janet Yellen testifies about the Biden Administration&#8217;s FY2024 federal budget proposal before the Senate Finance Committee in the Dirksen Senate Office Building on Capitol Hill on March 16, 2023 in Washington, DC.<\/span><span> (Chip Somodevilla\/Getty Images \/ Getty Images)<\/span><\/p>\n<\/div>\n<\/div>\n<p>&#8220;Social Security and Medicare are two bedrock programs that older American rely upon for their retirement security,&#8221; she said in a statement. &#8220;The Biden-Harris Administration is committed to ensuring the long-term viability of these critical programs so that retirees can receive the hard-earned benefits they\u2019re owed.&#8221;<\/p>\n<div class=\"ad-container tablet ad-h-50 ad-w-300\">\n<div class=\"ad gam\" id=\"tw-ad-lb4\" data-ad-lz=\"1\"><\/div>\n<\/div>\n<p>The future of the program has emerged as a contentious issue between Republicans and Democrats, after Presidnet Biden accused GOP lawmakers of wanting to slash funding for Medicare and Social Security during his <a href=\"https:\/\/www.foxbusiness.com\/politics\/biden-touts-manufacturing-jobs-industry-state-of-the-union-address\" target=\"_blank\" rel=\"noopener\"><u>State of the Union Address.<\/u><\/a><\/p>\n<div class=\"ad-container mobile ad-h-250 ad-w-300 ad-placeholder-load\">\n<div data-iu=\"ban4\" id=\"mobile-mw-ad-ban4\" class=\"ad gam inline\" data-ad-lz=\"1\"><\/div>\n<p><script>       window.foxstrike = window.foxstrike || {}       window.foxstrike.cmd = window.foxstrike.cmd || []        window.foxstrike.cmd.push(function(Strike) {         Strike.insertAd('mobile', 'ban4', 'mobile-mw-ad-ban4');       })       <\/script><\/div>\n<p>Republicans have repeatedly <a href=\"https:\/\/foxbusiness.com\/politics\/republican-lawmakers-push-back-biden-says-gop-wants-cut-social-security-medicare\" target=\"_blank\" rel=\"noopener\"><u>pushed back on that assertion,<\/u><\/a> insisting they do not want to cut funding for either of the entitlement programs.\u00a0<\/p>\n<div class=\"inline image-ct\">\n<div class=\"m\"><picture><source media=\"(max-width: 767px)\" ><source media=\"(min-width: 768px) and (max-width: 1023px)\" ><source media=\"(min-width: 1024px) and (max-width: 1279px)\" ><source media=\"(min-width: 1280px)\" ><\/picture><\/div>\n<div class=\"caption\">\n<p><span>People walk outside the U.S Capitol building in Washington, June 9, 2022.<\/span><span> (AP Photo\/Patrick Semansky, File \/ AP Newsroom)<\/span><\/p>\n<\/div>\n<\/div>\n<p>Biden proposed raising Medicare taxes from 3.8% to 5% on annual income above $400,00 in his budget proposal earlier this month. He also floated closing a loophole used by business owners and higher-earners to shield some of their income from additional taxes.<\/p>\n<p>The White House estimated the floated changes would extend the Medicare trust fund by an additional 25 years, &#8220;beyond 2050.&#8221;\u00a0<\/p>\n<div class=\"ad-container tablet ad-h-50 ad-w-300\">\n<div class=\"ad gam\" id=\"tw-ad-lb5\" data-ad-lz=\"1\"><\/div>\n<\/div>\n<div class=\"ad-container mobile ad-h-250 ad-w-300 ad-placeholder-load\">\n<div data-iu=\"ban5\" id=\"mobile-mw-ad-ban5\" class=\"ad gam inline\" data-ad-lz=\"1\"><\/div>\n<p><script>       window.foxstrike = window.foxstrike || {}       window.foxstrike.cmd = window.foxstrike.cmd || []        window.foxstrike.cmd.push(function(Strike) {         Strike.insertAd('mobile', 'ban5', 'mobile-mw-ad-ban5');       })       <\/script><\/div>\n<p><a href=\"https:\/\/www.foxbusiness.com\/apps-products\" target=\"_blank\" rel=\"noopener\"><strong><u>GET FOX BUSINESS ON THE GO BY CLICKING HERE<\/u><\/strong><\/a><\/p>\n<p>The proposals are unlikely to garner much <a href=\"https:\/\/foxbusiness.com\/category\/congress\" target=\"_blank\" rel=\"noopener\"><u>support in a deeply divided Congress<\/u><\/a>, and face almost certain rejection from Republicans who won control of the House last year.<\/p>\n<p>The president did not address the looming Social Security insolvency in his budget.<\/p>\n<div class=\"ad-container mobile ad-h-250 ad-w-300 ad-placeholder-load\">\n<div data-iu=\"ban6\" id=\"mobile-mw-ad-ban6\" class=\"ad gam inline\" data-ad-lz=\"1\"><\/div>\n<p><script>       window.foxstrike = window.foxstrike || {}       window.foxstrike.cmd = window.foxstrike.cmd || []        window.foxstrike.cmd.push(function(Strike) {         Strike.insertAd('mobile', 'ban6', 'mobile-mw-ad-ban6');       })       <\/script><\/div>\n<\/div>\n<div data-video-id=\"6323094954112\" data-video-domain=\"foxbusiness\" class=\"m video-player\" data-embed-uid=\"fnc-embed-1\">\n<div class=\"video-container\"><iframe aria-label=\"MVPD Picker\" src=\"\/\/static.foxnews.com\/static\/orion\/html\/video\/iframe\/vod.html?v=20230331003021#uid=fnc-embed-1&#038;url=www.foxbusiness.com%2Feconomy%2Fsocial-security-faces-insolvency-2033-one-year-sooner-previously-expected\" border=\"0\" frameborder=\"0\" allow=\"autoplay\" scrolling=\"no\" style=\"width: 100%; height: 1px; min-height: 100%;\" referrerpolicy=\"no-referrer-when-downgrade\" mozallowfullscreen=\"\" webkitallowfullscreen=\"\" allowfullscreen=\"\"><\/iframe><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>close Rep. Ro Khanna details his proposal to make social security solvent Rep. Ro Khanna, R-Calif., discusses the Los Angeles school strike, fallout from Silicon Valley Bank and his proposal to make social security solvent. The Social Security retirement fund could run out of money as soon as 2033, a year earlier than previously projected<\/p>\n","protected":false},"author":1,"featured_media":1908793,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[4755,3646,5127,19532],"class_list":["post-1908792","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-money","tag-security","tag-social","tag-sooner"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1908792","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1908792"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1908792\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1908793"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1908792"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1908792"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1908792"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}