Not sure about medicare.

But SS is nowhere near as bad as some make out. It is not going broke in the 2030's, what happens is this...

SS has been running a deficit for a while, between annual income and outlays. They've been making up that deficit with funds which the SSA had previously loaned to the federal government for other purposes, during an era when SS ran a surplus.

The money in that loan account will run out soon, which will require SSA (congress actually) to close the deficit gap. It's not a catastrophic gap, and there are several ways to fix it...

- Small delay in full retirement age. This has happened before, and would presumably be phased in slowly, like a month at a time.

- Modest increase in payroll taxes.

- Increase in SS taxes on employees. Could take several forms, we're already seeing a trend to want to remove the cap on income that's subject to SS tax, so wealthy people (ie us) will pay more tax on our income but won't see any benefit from that, since the cap on SS benefit amount will remain.

- Means testing retirees (experts consider this politically non-palatable).

My financial advisors predict this will be dealt with, and there won't be a reduction in benefit (more than maybe token) for those already retired, or nearing retirement. You can do some research, plenty of people in the personal finance space are talking about this and nobody seems to be predicting any sort of catastrophe.

Also the baby boom is a big part (or all) of the problem. As boomers die off, subsequent generations will be in a better balance between working and retired population, so the deficit is likely temporary (all else equal).

Yes millennials might have to pay more to fund boomers' retirement... that doesn't bother me though.
1. Traditionally in human society you take care of your elderly parents.
2. They'll inherit a bunch of that wealth soon enough anyway.