New Annual Social Security and Medicare reports project that the Old Age and Survivors Insurance (OASI) Trust Fund will be exhausted in late 2032, with Medicare Hospital Insurance (Part A) following in 2033. The analyses warn that, under current law, Social Security benefits could be cut about 22% and Medicare Part A reimbursements about 11% across the board if Congress does not act. The reporting process also drew attention because two public trustee positions reportedly have been vacant for more than a decade, and the reports were issued over two months late without the concurrence of two public trustees. The projections add urgency to legislative debate because the trust-fund depletion window would land during a narrow slice of congressional terms. For higher education institutions, the development matters indirectly through public budget pressures affecting federal programs and downstream state policy choices. It also increases the likelihood of politically contentious entitlement reform discussions that can influence higher ed funding, affordability initiatives, and institutional planning assumptions for years ahead.