"Without change, rising costs will drive government spending to unprecedented levels, consume nearly all projected federal revenues and threaten America's future prosperity."The dates in this NPR news article are just scary. 2041 for Social Security. 2019 for Medicare. According to program trustees, those are the forecasted years when the trust funds for each benefit program run out. "Depleted" and "wiped out" were also particular terms chosen by the author of the article.
--Treasury Secretary Henry Paulson
But I thought Medicare Part D was just approved just a few years ago? How did it get budgeted in? And what about the privatization debate for social security? If the gov't can't support us (or needs to exorbitantly raise tax rates to do so), maybe we should be allowed to invest for ourselves.
The healthcare economist elaborates further on the Medicare end.