U.S. said to exhaust Medicare funds earlier

WASHINGTON  - two of the most popular programs of the Government for the elderly, Medicare and social security, run more money sooner than thought earlier as economic growth slow vegetable saps revenue, said a report Friday.

Trustees for the two funds, said that the health insurance fund is projected to exhaust its funds in 2024, not estimated 2029 in last year, and that the social security retirement program will run more money in 2036, not 2037 as previously thought.

Projections last minted in an intense debate between the administration of the Obama and the Republican opposition on how to rein in rampant debt of the nation, the value reached the legal limit of 14.3 billion Monday.

If two expensive law programs should be on the table was a part of the debate, and the Secretary of the Treasury Timothy Geithner quickly tied them together in a call to the legislators of the debt limit hike.

"I want to again encourage Congress to move as quickly as possible, so that all Americans will remain confident that the United States will meet all its obligations - not only our interest payments, but also our commitments to our elders"he said at a news conference to publish reports of the Trustees.""

GROUP WARNS OF RECESSION

A separate report to be published Monday by a centrist think tank, called the third way has warned that if the inaction in Washington forced a default value of the debt - something never happened in the history of the country - it could plunge the economy into recession.

But a 5-8 may Gallup survey showed some 47 percent of Americans want their representatives in Congress to oppose an increase in the ceiling of the debt-to-suggesting the political battle to raise may be long.

Advance of the reports of the Trustees on two programs entitled big, Representative Xavier Becerra, the top of the page on the ways of the House, Democrats and means Subcommittee on social security, said he only expected to show that weak economic growth has hit everyone hardincluding social security.

But he said programme, which provided benefits to about 60 million US dollars at the end of last year, should not be brought in the current debate about the deficit.

SPARE SOCIAL SECURITY?

"There is a growing consensus that social security has never contributed a penny to the national debt and that it is not a target for the reduction of the deficit," he said in an interview.

To date, social security appears to be off the coast of the table in the budget talks. But the Republicans in the House of representatives are shoot of redesigning the future retiree Medicare health care program. Their proposal would give the elderly a federal subsidy to buy medical coverage from private insurers.

Republicans believe that change is necessary because a recent analysis by the Congressional Budget Office shows impartiality in the Trust Fund will be depleted in nine years.

Michelle Dimarob, spokesperson for the President of the Committee of how Republican Dave Camp, provided that the Trustees report would show the recession putting pressure on the finances of these two programs.

"We demonstrate that we are serious shoring these programs of law", she said.