FDR signed Social Security into law in 1935. Medicare came along 30 years later. Social Security is the largest government program in the world (funny given the rep of most of Europe). And the two programs combined not only rank as two of the three largest chunks of the federal budget, they consume more than a third of it.
So there's a lot at stake here. And you'll have to forgive my concern – if not outright panic – at the trustees report that dropped yesterday detailing just how much worse off these two programs are than any of us realized.
Pointing a finger at the still staggering economy and higher energy prices, the trustees reported Social Security will dry up in 2033. And Medicare will be gone in 2024.
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