Report Says Medicare to Go Broke by 2019

Gee, that's nice. Medicare will go broke the year I turn 63. Guess that's my birthday present from George Bush.

I think they should cut pork barrel projects within the military and industry "welfare" and keep medicare solvent.

Social security and medicare were in trouble before Bush got into office so I don't blame the problem entirely on him. However, the situation has gotten drasticly worse since he's been in office with his irresponsible fiscal "policy". His adminstration's motto is "Live for today, to Hell with the Future".

It is a complex situation. I am not looking to "blame" anybody. What do you think that the government could do to ameliorate this situation?

If we can afford to set up post office zipcodes in Iraq, we can afford to fix Medicare/Social Security.

When you look at any of the spending that is earmarked for any project, there are always these other things tacked on that have nothing to do with the project, or are well beyond the scope of the need.

My standard answer on how to fix the problem is to take away the gluttonous retirement packages politicians get and let them deal with the same system as everybody else. Then they'll care enough to do something about it.

I think that a BIG part of the problem is that the politicians do not have to deal with the same system as the rest of us. There is no vested iterest for them, personally. Wanna make a bet that Congress will NEVER vote to give themselves the same system that they offer other citizens?

Neither do CEO's, VP's, private business owners or any number of "wealthy" people. They should do away with SS entirely and leave retirement up to people on their own. I will gladly keep my SS payment going into an IRA instead of the government.

McGentrix- That's a great idea for you younger folks, and I heartily agree. It is too late though for the older folks. Egads, when I first started to work, social security was a couple of bucks a paycheck. No big deal.

The problem with private retirement, is that I would bet that a lot of people would not ever put money into it, and then cry later when they are old and starving, that the government won't help them.

If there were private retirement, how do you think that it would best be implemented?

The way the system is set up, the money that comes out now isn't set aside for you, it's spent on the people currently drawing. So if they stop it, current recipients lose everything.

The problems are:
1) The baby boomers are over 50% of the population and more than 50% of the population will be geriatric at the same time, and not enough younger workers to "support" them.
2) Social security has branched into other programs like disability, medicare and disability dependants drawing benefits too, that were never intended.

I've got 36 years in the system and I would gladly take all that money back and use it for my own retirement. I'm not about to give up all those bucks I was forced to give and get nothing in return without a huge fight.

start today. Say anyone born tomorrow will pay no SS. But, implement a payroll law stating a percentage MUST be paid into a private IRA or some other account.

McGentrix- Makes a lot of sense.