The system is flawed. Currently, the Trump administration wants to cut assistance to “the three big entitlement programs,” as Senator Mitch McConnell stated in an interview with Bloomberg, as a solution to lowering the national debt.
With all due sympathy for the nightmare you’ve been though, this really isn’t what Mitch said in that interview.
Mitch pointed out what is well known: that the three entitlement programs, which have their payroll tax funded accounts “walled off” from the General Fund that our income tax money goes into (although the govt does borrow from the entitlement accounts), are going to be “bankrupt” in 10–20 years without either (a) new revenues, or (b) lowering benefits.
This is not in debate; it is clearly stated in the annual reports issued by the Trustees of these systems.
What most people struggle with on this is how “bankrupt” is defined, since the government is not an individual or a business. “Bankrupt”, in this context, means that the entitlement has exhausted the cash balance in its account, and now by law has to shift to a “pay claims as you go” accounting, where the claims against the account in a given month are paid for by the money being collected that month through the payroll taxes.
Because the collections will not cover the claims, it is estimated by the Trustees that benefits will have to be cut by about 30% in all these accounts at that time. So, Social Security checks will drop by 30%, and the reimbursements for health care services will drop by 30% (or, in other words, the patient’s portion of the billings will rise by 30%).
You can fix Social Security with a rather minor set of changes on the tax and benefit side which really don’t put anyone in any difficulty. Medicare/Medicaid is impossible to fix without a substantial amount of pain to recipients.