Social Security and Medicare Prospects Darken Due to Recession

The recession has hastened the looming insolvency of both Social Security and Medicare.

Social Security is projected to start paying out more in benefits than it collects to fund those payments in 2016--a year earlier than expected prior to the recession. 

The Medicare program began running an annual deficit in 2008 and it did so again this year.  The Medicare trust fund is expected to be depleted by 2017 which is 2 years earlier than expected before the recession started.

Source: AP