Posted on 05/12/2009 12:43:03 PM PDT by justlurking
The financial health of Social Security and Medicare, the government's two biggest benefit programs, have worsened because of the severe recession, and Medicare is now paying out more than it receives.
Trustees of the programs said Tuesday that Social Security will start paying out more in benefits than it collects in taxes in 2016, one year sooner than projected last year, and the giant trust fund will be depleted by 2037, four years sooner.
Medicare is in even worse shape. The trustees said the program for hospital expenses will pay out more in benefits than it collects this year and will be insolvent by 2017, two years earlier than the date projected in last year's report.
(Excerpt) Read more at news.yahoo.com ...
Cheer up - George Washington worked until the day that he died [or at least two days before he died].
You've got all sorts of fun to look forward to in your immediate future: There's still a war to fight and a new country to found.
When I say "boomers fault", it's a joke. I lay every problem this country has at the feet of liberals and liberalism......and that's not a joke.
The line about the SS “trust fund” always ticks me off. The ONLY “trust fund” that Congress has is MY PAYCHECK.
But, but, when Bush wanted to do something about Social Security the Dems said there was nothing wrong with the current system.
Meanwhile, us SOBs who actually work to pay the damn taxes can’t get a ten cents stimulus check . . .
I remember that very well.
That debt is meaningless. It wont be “paid.” Soon enough we will have no choice.
Only Eight More Years for Social Security and Medicare
'We're all gonna die !' . . . And King Zero is our savior'
LOL . . . LOL !
EXCELLENT!!
“I guess I’ll be working until the day I die. Being only 41, SS will be gone and given what the gov is doing, what little I have in the market will not be all that much either in 30 years.”
I’m 53 and I figured that out about 1 years ago. I also am of the belief that the politicians were very serious when they were talking about taking over our 401k’s and turning them into Government IRA’s, (GIRA).
Think about it! It’s ‘s wonderful! Tell the people that their 401k are now worth what they were on October 1st, 2008. Then take the money away and lock it into a fund they can’t touch until they are of Social Security age. Then use that to pay for their personal Social Security payments.
Create Trillions of dollars out of thin air! Take it away in the next breath! Maybe you can have it if you live so long.
And who knows, using modern Actuarial tables we’ll boost the retirement age to 75 because Americans only live to be around 76 or so on average. (I made that part up, but it could happen.)
Must be a Chicago voter. Gotta make sure she gets bus fare so she can vote for another 40 years.
Medicare Says It Won’t Cover ‘Virtual’ Colonoscopies
Last update: 5/12/2009 6:10:29 PM
By Patrick Yoest
Of DOW JONES NEWSWIRES
WASHINGTON (Dow Jones)—In a final decision released Tuesday afternoon, the federal agency that runs Medicare announced that it would not provide payments for so-called “virtual” colonoscopies.
The Centers for Medicare and Medicaid Services, or CMS, said in a memo that it would not cover colon screenings with CT devices. The agency concluded that “the evidence is not sufficient to conclude that screening CT colonography improves health benefits for asymptomatic, average risk Medicare beneficiaries.”
The decision is a blow for medical-imaging companies such as General Electric Co. (GE) and Siemens AG (SI) that have developed technology to conduct the scans. The scans test for colorectal cancer, which kills roughly 50,000 Americans each year.
Supporters of virtual colonoscopies say that, because they are far less invasive than traditional colonoscopies, more patients are likely to take the test and thus the disease is more likely to be detected.
While the CMS memo called the virtual colonoscopies a “promising technology,” it said that more tests had to be conducted that focused on the segment of the U.S. population eligible for Medicare benefits.
I suppose we should turn our selves in soon to hear the music and watch the pretty pictures.
Well I am 66, so there is a fair chance that SS will outlive me!
When you turn 62 take it early or you may never get it. After all you did pay into it for 40 years or more.
I guess I’ll be working until the day I die. Being only 41, SS will be gone and given what the gov is doing, what little I have in the market will not be all that much either in 30 years.
___________
OR move, get out. Go to a place that doesn’t tax the living hell out of you. Many people are going there.
This is all CAUSED by our irresponsible government. Both parties are to blame. Big government is destroying everything this country stands for and people just keep forking over money for them to do it with. States need to secede and take back their rights. It’s all crashing and only the people can stop it.
Look at what the illegals cost us? If it weren’t for them, and foreign aid to countries that hate us and use us, trying to feed the rest of the world, etc. we could easily take care of our own. ALL of them. It’s just all screwed up. I really just want to get out and move to a place where I can just enjoy living. I don’t see any hope for this country, I really don’t. Short of a full blown revolution or a miracle, the road back is too long.
Re: “When Obamacare kicks in, most of us won’t be treated for the illnesses that will keep us from reaching retirement age.”
*********
Ding Ding Ding!!!!! The winner!
Didn’t Daschle tell seniors to just accept a lot of the frailties and illnesses of the aging process? He’d love for seniors not to utilize Medicare funds.
Guess seniors just aren’t good for much, eh Tom? Best they die off quickly after retirement, if they are able to retire at all!
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