Retirement Benefit Programs are the two largest federal expenditures, and they will run out of money three years earlier than original estimates indicated. Lawmakers now feel the pressure to reform these programs for millions of Americans. The trustees for the U.S. Government said the social security fund will become insolvent in 2033, and the Medicare funds will run out in 2024.
See Reuters, US Retirement Fund to Run Dry Earlier: Trustees, CNBC, Apr. 23, 2012.
Special thanks to David S. Luber (Attorney at law, Florida Probate Attorney Wills and Estates Law Firm) for bringing this article to my attention.
