America’s federally sanctioned entitlement programs, Medicare, Medicaid, and Social Security, each face bankruptcy in the next few years. Medicare and Medicaid were created in 1965 as part of President Lyndon Johnson’s Great Society legislation.
In his FY 2008 budget, the President has proposed a set of seriousMedicare proposals that will begin to address the enormous fiscalchallenge of entitlement spending.
Social Security’s growing cash-flow deficits and eventual trust-fund exhaustion are putting increasing strain on the federal budget and threatening benefits for especially vulnerable beneficiaries.
In just 10 years, Social Security will be insolvent. Fortunately, as a member of Energy and Capital, you have access to dozens of investment opportunities that are far safer and far more lucrative than anything Social Security could ever deliver.