If you still believe Social Security and Medicare are in okay shape, they aren't.
Really.
Unless something is done now, or pretty soon, some future Congress is going to have to tell old people there's no more money in the kitty.
Those future old people are in their mid to late 30's now, and like the rest of us, they won't be dying when they're supposed to.
"Things were cheap when Franklin Roosevelt succeeded in pushing the Social Security plan through Congress in 1935. The maximum tax was 2 percent on a worker's first $3,000, or $5 per month. Benefits didn't commence until age 65, and life expectancy at birth was 58 for men and 62 for women."
Read the whole thing.
Unfortunately, the Bush numbers don't seem to add up either.
Really.
Unless something is done now, or pretty soon, some future Congress is going to have to tell old people there's no more money in the kitty.
Those future old people are in their mid to late 30's now, and like the rest of us, they won't be dying when they're supposed to.
"Things were cheap when Franklin Roosevelt succeeded in pushing the Social Security plan through Congress in 1935. The maximum tax was 2 percent on a worker's first $3,000, or $5 per month. Benefits didn't commence until age 65, and life expectancy at birth was 58 for men and 62 for women."
Read the whole thing.
Unfortunately, the Bush numbers don't seem to add up either.
posted by patrickhenry at 12:23 AM
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