|
Title: Social Security - Medicare busted by 2017? - New Report Post by: WhiskeyGirl on May 12, 2009, 08:08:24 AM Quote But many analysts said the worst recession in decades will produce a bleaker forecast for both Social Security and Medicare in the new trustees' report. The downturn has resulted in a loss of 5.7 million payroll jobs since it began in December 2007 and an unemployment rate that hit a 25-year high of 8.9 percent in April. Fewer people working means less being paid into the trust funds for Social Security and Medicare. Quote The trustees report is still expected to set off a heated debate over the government's two large benefit programs, with critics saying it will highlight the failure of the Obama administration to take on the most serious problems in the budget -- soaring entitlement spending, before the retirement of 78 million baby boomers makes the problems even worse. http://www.foxnews.com/politics/2009/05/12/social-security-medicare-seen-failing-faster/ (http://www.foxnews.com/politics/2009/05/12/social-security-medicare-seen-failing-faster/) Let's see. Your retirement investments have been devastated by the many bubbles. Those in Congress had the opportunity to fix (Barney's safe and secure Fannie/Freddie). To their credit, Congress and the White House did fix the internet gambling and credit card problem under Bush, but 'Barney' wants to repair that damage too. The Obama administration chose to make UAW retirees healthcare and pension independent at the expense of other retirees (firefighters, school teachers, others). The Obama administration is sending more autoworker jobs to China, Korea, and Mexico. The Obama administration wants to legalize the 12-20 million illegal aliens in this country. I have to believe there are really more like 30-40 million already here and their numbers are rising daily. There are only about 50 million retirees. Help me understand the math? jmho |