Tuesday, March 25, 2008

Money doesn't mean a thing

So today the feds announced, with little fanfare, that the Social Security trust fund will be wiped out by 2041, and Medicare is projected to be belly-up by 2019. Terrifying. Specifically, they also stated that, beginning this year for Medicare and in 2017 for Social Security, benefits withdrawn will be more than taxes collected via payroll (as a greater number of people hit retirement age than are in the workforce). So basically when I am 47, Social Security will be out of money (because it loaned its surplus to the federal government), and when I hit 71, there will be no money left.

Pretty sweet, huh? Guess I'd better take the $15 in my pocket right now and hide it in my mattress.

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