“’Boomers have now crossed the line between thinking about Medicare and Social Security as an issue for their parents, to being worried about it for themselves,’ said William H. Frey, a demographer at Brookings Institution who did a broad analysis of available census data. More so than their parents, boomers face increasing costs of medical care and the risk that government pensions will need to substitute for downturns in their 401k plans. “Their interest in the viability of Medicare should be priority one for politicians seeking office, especially in aging regions of the country,’ he said.” (Atlanta Journal-Constitution)
Bad news for the federal budget.
FEE Timely Classic
“Undertaxed or Overspent?” by E. C. Pasour, Jr.