Thursday, June 16, 2011

The Extinction of Retirement

The Extinction of Retirement
"According to the Social Security Administration, in 2008, Social Security provided 50% of all income for 64% of recipients and 90% of all income for 34% of all beneficiaries.
With these numbers, it's not hard to see how even small cuts will spark big protests.
Now try cutting the $20 trillion prescription drug program and the $79 trillion Medicare entitlements and watch the political sparks fly! However, given the realities, it's hard to see how the program can escape deep cuts."

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