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News Link • Government Debt & Financing

The End of Social Security and Medicare – or Just Dreamtime


Social Security and Medicare Need Reform Now, Say Trustees ... Chuck Blahous and Robert Reischauer, the two independent trustees of the Social Security and Medicare Trust Fund, had a sober warning Friday: act quickly or the nation's two most popular entitlements are in serious danger. "The earlier we act to deal with these problems, the better off we're gonna be, certainly better off the vulnerable populations are gonna be," said Blahous, referring to low-income seniors and those already receiving benefits. The Medicare hospital trust fund will be unable to pay promised benefits in 2024, five years earlier than previously thought. "The fact that we are now looking at the future that involves nothing but years in which the program costs more than the income flowing into it is a new development," Reischauer says. Additionally, the Social Security trust fund will be exhausted in 2036 and under current law, seniors will face a 23 percent across-the-board cut in benefits. If lawmakers wait until then, the magnitude of the problem is exponentially bigger. – Fox News

Dominant Social Theme: Take it easy. Dream on. Everything's under control.

Free-Market Analysis: The idea that government is good and wants to look out for YOU is a main staple of Western regulatory democracies, and increasingly democracies being imposed around the world. It is certainly a major dominant social theme of the power elite that rules the West from behind the veil of these political memes.

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