The Recession Weighs On Social Security And Medicare

The public concern has centered around the approaching demise of Social Security, but the article attached makes it quite clear that Medicare is the problem. To make matters worse, the recent recession has sped up the failure of both systems and has Medicare insolvent by 2017. The Obama administration has pushed health care reform to the top of the list, but Congress is facing the unenviable choice of either raising taxes or cutting benefits. If they choose to raise taxes, this could exacerbate unemployment as increasingly costly jobs are outsourced or eliminated entirely.