Health Care

Study #283 - Ten Steps to Reforming Baby Boomer Retirement

As 77 million members of the Baby Boom generation begin to retire, America is about to experience one of the most dramatic economic, sociological and demographic changes in its history. The institutions we have relied upon in the past are completely unprepared for what lies ahead.

Politicians, the national news media and the general public have become increasingly aware that our federal entitlement programs are about to be swamped. Social Security, Medicare and Medicaid have made trillions of dollars of explicit and implicit unfunded promises. In fact, by 2030 (about the midpoint of the baby boomers' retirement years), we will have to double every tax rate or cut every benefit in half.