The Future of Social Security: Not Good

From Kimberly Palmer at U.S. News, "The Future of Social Security: Not Good":

I spent the morning at the Youth Entitlements Summit on Capitol Hill, where 20-somethings quizzed economists about the future of Social Security, Medicare, and the financial security of our country. I left feeling like young people have a lot to worry about.

Not only are they facing one of the worst job markets right now, which means they're having trouble getting the early experience they need to build future careers, but they also seem likely to pay higher taxes and perhaps receive lower benefits from these entitlement programs. The Social Security trust fund, for example, is scheduled to run out in 2037. After that point, if no changes are made, there will only be enough money from tax revenue to pay about 75 cents for each dollar of scheduled benefits.

Some on the radical left, of course, insist that the "sky is not falling on Social Security." And these guys get really mad if you don't toe the line on their unhinged big-government pie-in-the-sky analyses!