Great minds think alike, once again

Viking Pundit, last month: “2018: A fiscal Odyssey into the red”

Charles Krauthammer, today: “2042: A Fiscal Odyssey”

Although, like me, Krauthammer notes that the critical year is thirteen years hence:

The really important date is 2018. That is when this pay-as-you-go system starts paying out more (in Social Security benefits) than goes in (in payroll taxes). Right now, workers pay in more than old folks take out. But because the population is aging, in 13 years the system begins to go into the red. To cover retiree benefits, the government will have to exhaust all of its FICA tax revenue and come up with the rest -- by borrowing on the world market, raising taxes or cutting other government programs.

Nice job, Charles. How about throwing a hat tip my way?