Social Security & Medicare Report Card : Chaos Coming

According to the progressive socialists now in power, nothing to see here as another mandate comes on line January 1, 2014 that is bigger than all of the other mandates combined, ObamaCare. That another 30 to 50 million more people will become eligible for care and pay little or nothing for it isn't a problem. Not to worry, the rich will pay for everything.

Nothing to see here proclaim the progressives, just accept the 'new norm' of 'if you have one meal to day, that should be sufficient to survive till tomorrow'. Doing what you are told to do will make your life simpler, not doing what you are told will only complicate your life.

Trustees reports. The Social Security and Medicare Trustees Reports were released last week, showing the financial wellbeing of the nation's entitlement trust funds. Of course, the entitlement trust funds are filing cabinets full of bonds, not actual bank accounts. In any event, most news reports focused on when the trust funds will be exhausted (2026 for Medicare and 2033 for Social Security). However, most of the reports ignored the more important problem of the huge unfunded liabilities we continue to amass. NCPA President John Goodman