The report says Social Security will become insolvent in 2034 - no change from the projection previous year.
According to the annual Social Security Board of Trustees report, the year when the combined trust fund reserves are projected to become depleted (if Congress does not act before then, they optimistically remind us), is 2034 - the same as projected last year.
The program trustees say it will become insolvent in 2026, which is three years earlier than previously forecasted.
US Treasury Secretary Steven Mnuchin, who also serves as a trustee for both programs, admitted there were "long-term issues", but dismissed concerns about the programs' future solvency.
At the same time, the monthly Medicare "Part B" premium for outpatient care paid by most beneficiaries is projected to rise by about $1.50, to $135.50. Yet the Trump Administration has not offered any further plan to address the projected shortfalls.
Both programs are funded by dedicated taxes that no longer generate sufficient revenue to cover either program's costs.
The annual funding update marks the first such report since Congress did away with that panel, which was created to cut Medicare costs if spending grew too fast. Medicare "is on track to meet its obligations to beneficiaries well into the next decade".
Medicare covered 58.4 million people, including 49.5 million aged 65 and older and 8.9 million with a disability, at a cost of $710.2 billion in 2017.
At the same time, it said, outlays from Medicare's hospital trust fund "are expected to be higher than last year's estimates due to higher-than-anticipated spending in 2017, legislation that increases hospital spending", and higher payments to private Medicare Advantage plans.
Cubanski also said that Americans with higher incomes and more lucrative Social Security benefits will benefit from federal tax cuts that will lower paycheck deductions. The agency said it is trying to lower costs for Medicare recipients and strengthen the program, through proposals that would increase price transparency.
"President Trump's recently unveiled prescription drug pricing proposals were a missed opportunity to bring Big Pharma to the negotiating table with the Medicare program", the committee's CEO, Max Richtman, said in a statement. "Among all the steps we could take to maintain the program's financial health, this is one of the most crucial". Stores for the retirement program will be exhausted a year earlier, though, in 2034.
Social Security covers 62 million people, split among retired workers and their dependents, survivors of workers who've died and disabled people.
Social Security's cost has exceeded its non-interest income since 2010.