Social Security will be means tested (even more than it is, via the bend points) and will become nothing more than an old age welfare system. Health care for seniors will be severely rationed; it will probably become something like Medicaid -- unless, of course, you are a retired government employee, in which case you will continue to get good benefits on a government plan. Beyond that, we will have a long bout of very high inflation, which is the modern form of debt repudiation.
Alternatively, we could face up to entitlement reform now, as we could and should have done at any point in the last 50 years. I'm not holding my breath, though I would still vote for a candidate who at least pretended to take the problem seriously.
Thanks for the depressing but sobering prediction. I’m beginning to understand my elders when they would say that they wouldn’t have to deal with these world problems too much longer. Amen.
The writing is on the wall. We just cannot avoid paying the debt piper someday, and probably sooner than any of us think.