Socialism is alive and well in Europe and there is creeping socialism in the US. Medicare, Medicaid, and Social Security are increasing in scope and cost.
48 million Americans receive Social Security benefits, including 33 million retirees, 7 million survivors, and 8 million disabled workers. There are 50 million Medicaid recipients.
Nearly 80% of Americans pay more in Social Security taxes than they do in federal income tax.
By 2030, there will be 70 million Americans of retirement age--twice as many as today.
Social Security pays more than $450 billion in benefits each year. If nothing is done, by 2060, the combination of Social Security and Medicare will account for more than 71 percent of the federal budget.
SS Benefits will have to be cut by reducing the percentage of annual increases and raising the retirement age. Medicare will have to change to some kind of catastrophic coverage with rationing. Get ready to pay for much of your health care in old age.