What are we going to do about Social Security and Medicare?

Since you are only 29 you 35 years left to invest in a retirement account like 401K or IRA. I didnt have that opportunity since they were not invented when I started working. As you said, you will get 78% of benefits after 2037 compared to 100% for current recipients Can you see much difference between those amounts? The reason you have to pay is that your contributions are matched by your employer and what you pay in comes back much more in benefits; also, if you become disabled social security can cover you. You can invest most of your paycheck as you see fit.

There are millions of people dependent on your social security contributions because these benefits are paid ONLY from FICA payroll deductions. Between now and 2037 I am sure there will be some streamlining of social security and Congress will not be allowed to use the money for other purposes like the bridge to nowhere and other such follies at taxpayer expense. Here is how I think we could infuse more money into future retiree benefits:

1. Eliminate social security benefits for all those who did not contribute to the fund excluding permanently disabled children and adults. See list below*

2. Eliminate the ceiling for contributions to the fund for those earning over $106,800 annually. No cap on contributions.

3. Have means-testing for Medicare. They have begun to charge higher premiums for retired seniors who have an income of over $85,000 and that is a good start.

• Divorced spouses of over 10 years receive spousal benefits after age 60 or 50 if disabled.

• Each child of a divorced spouse from each marriage of over 10 years gets benefits.

• Each child of a disabled parent receives benefits

• Children born with a permanent mental or physical disability get benefits

• Each child of a deceased parent receives survivor benefits to age 18 or 19

• Legal low income emigrants who have not worked in the U.S. get SSI

• Families can get SSI up to $2000

• Pregnant girls and women of low income get SSI

• Seniors whose Social Security is 150% below federal poverty guideline receive SSI

• Adults under age 65 get for SSI if disabled short-term

• Adults under age 65 get SSDI if disabled permanently

Much of Medicare costs are due to fraudulent claims. Under the current Justice Dept we have fraud squads investigating suppliers and providers who are bilking social security out of billions of $$ every year. There has to be more oversight.

Because older people do not want their benefits cut. you forget that they paid into the system also. Any politician who propose to cut ss & medicare mind as well kiss their job goodbye. The older generation votes more than the younger generation anyways.

There is no reason that ss will go bankrupt. People pay into and they take their money back, just like a bank. The only reason that the younger generation is paying for the older generation is because the government (conservatives and liberals) has been taking the surplus from ss and using it on other things. Thus politicians (conservatives and liberals) owe the american people the funds from their ss account. The debt to the american people is no different from the debt to china and other foreign countries. It should be repaid the same.

in the long run, taxes will be raised and benefits cut. there's no doubt of either -- the only question is when, how much, and on whose dime.