On, October 1, 2013, the Health Insurance Marketplace (aka Exchange) should open for business in the majority of U.S. states.
The following information is from the August 2013 issue of The Kiplinger Letter.
- Over the next 17 years 10,000 people a day will turn 65.
- By 2021 Social Security payouts will exceed incoming funds.
- Even if the yearly federal budget deficits decline, interest payments on the national debt will quadruple from current levels by 2024.
- By 2026 the Medicare trust fund will be gone. Its outflows already exceed its inflows.
- By 2033 the Social Security trust fund will be gone.
How do you think Uncle Sam will raise money to cover these expenses?