Social security: don't care? You should...

Highlights:

Mark Zandi, chief economist at Moody's Economy.com. "For most households out buying gasoline and a loaf of bread, it feels like inflation is high."

An estimated 10,000 people a day will become eligible for Social Security benefits over the next two decades, putting a severe strain on the pension program.

If no changes are made, the Social Security trust fund is projected to deplete its reserves in 2041 and even sooner, in 2017, Social Security is scheduled to start paying out more in benefits than it collects each year in payroll taxes. Medicare is facing even greater funding problems because of the rapidly rising cost of health care.

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