This week we learned Social Security will spend more than it collects this year for the first time since 1983. Unless trends change, the new go-bust date for the retirement program is 2034.Social Security has never played any significant role in my retirement planning. At age 65, I'll be drawing retirements from the military, the state, and local governments Social Security is going to be an extremely minor player. However, I am required by law to buy Medicare, another government ponzi scheme that will soon overspend its budget.
Even worse news is that Medicare, the retiree health care program, will be spent out by 2026 — I may not even be retired yet.I have been forced, since I joined the workforce in the early '70s to participate in both these unsustainable schemes. Anyone with a brain could see that that the systems were going broke. These two programs are Socialism LIte, and everywhere that socialism has been tried, it has failed.
Yet, this still comes as a surprise to some people.