In my previous report, “Why Should Your Children Pay for My Retirement?” I went through the logic and economics of Social Security and Medicare. I made the point that, at some point, the bill-payers are going to resist the payments that previous generations have legislated. What one generation can legislate, a subsequent generation can repeal.
The main political question is this: In which form will this repeal manifest itself?
The statistical facts of Social Security and Medicare make it clear that the funding of both…
