Social Security and Medicare are heading toward insolvency. Congress has 6 years to act
Author: Steve H. Hanke and David M. Walker
Outlet: Fortune
Date: June 11, 2026
Hanke and co-author David M. Walker warn that the Social Security Old-Age and Survivors Insurance (OASI) Trust Fund is projected to be exhausted by late 2032, with the Medicare Hospital Insurance (Part A) Trust Fund following in 2033, triggering automatic benefit cuts unless Congress acts within roughly six years. They argue a bipartisan fiscal commission is needed to develop and fast-track reforms before the trust funds run dry, pointing to the existing bipartisan Fiscal Commission Act as a workable vehicle already available to Congress.
Full Citation:
"Social Security and Medicare are heading toward insolvency. Congress has 6 years to act," Fortune, June 11, 2026. (with David M. Walker)