The gathering storm on Social Security and Medicare | Washington Examiner

The gathering storm on Social Security and Medicare | Washington Examiner: "Earlier this week, the trustees for Social Security and Medicare issued their latest annual report warning of the impending financial catastrophe when the federal government must pay out more in benefits it has promised under the two entitlements than it collects in taxes to pay for the programs. Medicare ran out of cash to pay for hospital benefits last year and now these costs are covered by the U.S. Treasury. By 2017, according to the trustees, Medicare will have exhausted all of its trust funds. Social Security will run dry in 2016. The approach of these doomsdays has accelerated in the past year because of the slow economy and the refusal of Washington politicians in both parties to face reality."