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Start Saving Now, Because Social Security Is Screwed: New at Reason

The single largest government program in the United States will soon have an annual budget of $1 trillion a year. Yet even that amount isn't sufficient to fulfill the promises it has made. If Congress doesn't address its insolvency issues, payouts will need to be slashed by a quarter starting in fewer than 20 years.

The program is Social Security, and our national pastime seems to be turning a blind eye to its dysfunctions.

The problems with this entitlement aren't unique. Obamacare is also a mess, while cumulative government spending on Medicare and Medicaid is growing at a faster rate than Social Security is, and eventually will consume a larger share of the economy, writes Veronique de Rugy.

View this article.



This post first appeared on FREEDOM BUNKER: The Best Libertarian News And Chat, please read the originial post: here

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Start Saving Now, Because Social Security Is Screwed: New at Reason

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