There are Americans cashing their first Social Security checks this year who had better make backup plans. By the time they hit their early 80s, the U.S. government might cut their retirement pay by 25 percent.
As for Medicare, get ready to pay a larger share of the bills, retirees, because that crisis is coming on too, and soon unless the country wakes up to this financial calamity hiding in plain sight.
Its amazing what happens to runaway government spending programs that are too popular to change. They become unaffordable and ultimately unsustainable. Thats the situation for Social Security and Medicare, which are on paths to insolvency.
