Journal Article
Social Security and Medicare : the impending fiscal challenge
Hakkio, Craig S.; Wiseman, Elisha J. (2006-01)
Social Security?and the solvency of its Trust Fund?have increasingly become a focus of discussion in the media and policy circles. The basic problem is that promised benefits will soon exceed program revenues. Without changes in benefits or funding, the Trustees of Social Security project that assets in the Trust Fund will be depleted in 2041. While Social Security is a serious problem for taxpayers and beneficiaries, Medicare poses an even greater challenge. Together, the two programs? benefits currently amount to about 6 percent of GDP. By 2080 they are projected to swell to 20 percent. ...
Economic Review , Volume 91 , Issue Q I , Pages 7-41