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Since I am 26, I am in line to get royally screwed. Every projection that I have seen
shows me heavily in the red. Everytime I hear someone defend SS as a wonderful
program, I get seriously annoyed.


I share your frustration with this program's financing.
Unfortunately, there are very powerful contituencies who are against your interest because oddly enough they have do not see any issue with how much this system costs, or how equitable it is.

Another major concern is that they want the system to be "fair" so that no one can do "well". Honest. They don't want you to do better because it might come at the expense of someone else. (In the current funding scheme this concern is actually valid because there is a "pot" of money that is fixed. If you get more someone WILL get less. A system with real saving and investment does not have this problem).

Unless something is done to fix Social Security and Medicare, or if the economy does exceptionally well in the near future, both of these programs are going to start going bankrupt in the next 15 years (This is not I talking, this is the Congressional Budget Office's own projections which are available at ). Part of Medicare is already bankrupt and has been propped up with general tax revenues. If a new prescription drug benefit is approved, count this as another straw to assure bankruptcy sooner.

Take control of your own financial future. You do not want to be working 15 years from now when the inevitable huge tax increases will be levied to bail out these bankrupt programs.


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