Quote from tmarket:
The unfunded liability is over the infinite horizon. The majority comes from Medicare.
All the more reason that Medicare and health care needs to be reformed soon.
I agree, but how much of that will be due in the next 3 decades? That's why I specifically gave that time frame.
Here's something more concrete:
By 2020, in addition to payroll taxes and premiums, Social Security and Medicare will require more than one in four federal income tax dollars.
By 2030, about the midpoint of the baby boomer retirement years, the programs will require nearly half of all income tax dollars.
By 2060, they will require nearly three out of four income tax dollars.
Source: http://www.ncpa.org/pub/ba662
