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Tuesday, April 24, 2012

Social Security ....Will Democrats Allow It To Die ?

 The democrats know what is coming and have known for years. They have been told for years, that Social Security is in trouble. They however will not give up one of their talking points and their ability to scare the hell out of senior citizens when they tell them that Republicans want to take away Social Security. Well its now 3 years closer and we are beginning to hear the footsteps echoing as Armageddon comes closer. Its going to be interesting to see if the democrats will concede that Republicans have been right and something needs to be done concerning Social Security or will they allow it to fail. My personal opinion is that they will, they simply can't afford to admit they were wrong on that which has been such a major bone of contention between the parties for so long.

Social Security is slipping closer to insolvency

A dire forecast by trustees of Social Security and Medicare adds urgency to calls on Washington to do something soon as baby boomers begin retiring.

WASHINGTON — The nation's Social Security and Medicare programs are sliding closer to insolvency, the federal government warned in a new report underscoring the fiscal challenges facing the two mammoth retirement programs as baby boomers begin to retire.

Medicare, which will provide health insurance to more than 50 million elderly and disabled Americans this year, is expected to start operating in the red in its largest fund in 2024, according to the annual assessment by the trustees charged with overseeing the programs. That's unchanged from last year.

And the Social Security trust fund, which will provide assistance to more than 45 million people in 2012, will be unable under current trends to fulfill its obligations in 2033, three years earlier than projected last year.,0,7399775.story

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