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Author: tjscott0 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 774662  
Subject: Re: America’s stunning entitlements explos Date: 12/6/2012 7:09 PM
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All true MC. Though I think we both know that SS & Medicare makes up the majority of that spending & those programs so far have been untouchable. Combined they are 46-47% of the annual federal budget. The next biggest nondefense items are welfare & education spending. But even if they were totally eliminated--its only 15% of the budget.

Its gonna require major reductions in SS, Medicare & Defense budgets. Both parties are purty much gutless on doing what is necessary to prevent bankruptcy.

I hear much avowing here & on discussion boards:"I gonna git my SS & Medicares. I paid for them." I don't think so. IMHO, those with higher incomes eventually middle income will be getting much less than what was paid into those programs.
Those beenies will be clawed back to the gov't via higher medicare premiums & taxation of social security benefits.
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