The total national deficit including medicare, medicaid and social security stands at a staggering $59 trillion. Among these, the medicare looms as a threat to the nation as funds are expected to be depleted by 2019. With the first baby boomers turning 62 this year, the first wave of the 78 million baby boomers are retiring and currently only three taxpayers are supporting one retiree with the number expected to dwindle. The bailout from the Fed for the financial crisis seems to spill over.
Why is the Medicare running a shortfall? Read here
Read about the Social Security and Medicare shortfall here
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