Social Security Going Bust That Much Sooner

And Medicare is in worse shape. First Social Secuirty:

“Trustees of the programs said Tuesday that Social Security will start paying out more in benefits than it collects in taxes in 2016, one year sooner than projected last year, and the giant trust fund will be depleted by 2037, four years sooner. “

I wrote before that we have already started sending out more money then it is taking in. With the drop in the economy the end is coming sooner rather then later for Social Security. The really bad (or scary) news is that the 2037 is a big hoax, there is no trust fund as that money has already been spent by the government. People talking about how the “trust fund” will last x number of years are blowing smoke out of their ass.

As for Medicare, it is projected to go totally broke in 2017, two years earlier then thought. No surprise there either for those that follow politics and the economy.

The solution? Decreased benefits? Increased retirement age? Pushing government controlled medical care ass a solution? You can be sure they won’t talk about a real solution to both issues: privitization.

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