It seems that the future of 46 million people under Medicare and 60 million under Social Security benefits is under clouds. As per a recent report, the stipulated life of health-care program's largest trust fund would be short-lived. The report has claimed that rise in aging population and dithering economy has pushed the need of Medicare to an extent that the allocated financial stimulus for the government health care programs for the elderly would be washed off prematurely by 2024.

With the report hitting the corners of the society, the trustees that oversee Social Security and Medicare, including Treasury Secretary Timothy Geithner, made an appeal for intervention of Congress to make legislative corrections to avert the high possibility of dire consequences for beneficiaries and taxpayers.

Apparently, the report has come into light when the Congress is pushing efforts to extend $14.3 trillion federal debt limit by Aug. 2. Moreover, GOP leaders have called for rehauling the 46-year-old Medicare program to rescue elderly section of the society falling prey to financial and social dependency.

Geithner added, “If action is taken sooner rather than later, more options and more time will be available to phase in changes so that those affected can adequately prepare. If we do not do more to contain health-care costs, our commitments will become unsustainable”.