Saving Social Security and Medicare now seems hopeless

THE WASHINGTON POST OPINIONS (Bigstock) Another annual report is out from the Social Security and Medicare trustees. Which means it is the solemn duty of every economics columnist to acquaint their readers with some frightening numbers. Thanks to the Great Recession, the taxes paid into the Social Security program began to exceed the money flowing out in 2010.  But that is a permanent condition, not a recession-only shortfall; until taxes are raised or benefits are cut, the system will never return to balance. As more baby boomers retire, starting in 2022 we will begin to empty out the “trust...

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