Let the draining of the Treasury commence!
Fox News: "Social Security payment hits first Baby Boomer's bank account"
And here's a reminder from Robert Samuelson: "Sen. John McCain, the Republican front-runner, and Democratic Sens. Hillary Clinton and Barack Obama are alike in not addressing the central budget issue: baby boomers' retirement costs. Already, Social Security, Medicare and Medicaid are 44 percent of federal spending. In 2007, these programs cost $1.2 trillion, more than double all defense spending."
So entitlement spending is already nearly half the federal budget. Now wrap your head around this: "Over the next two decades, nearly 80 million baby boomers - about 10,000 per day - will become eligible for Social Security."
Now that's ironic!
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