One picture says it all: Why the national debt is a serious issue
This shouldn’t just concern young adults, kids and anyone who cares about the children.
If you’re depending on Social Security or Medicare at any point in the next 20 years, this should be absolutely terrifying. These debt levels are not sustainable and at some point benefits to the elderly are going to be on the chopping/reform block. If I were depending on Social Security and/or Medicare, I’d be demanding reform right now. (And if you’re counting on the Social Security trust fund – think again.)
Denying that there’s a problem with Social Security and Medicare will make future cuts and reforms even harsher for the elderly, because delaying the inevitable will only ensure that older adults aren’t prepared for future reductions until after they’ve retired and it’s much, much harder to save.