Salinas, CA Social Security And Medicare Conundrum : How Do We Keep The System Afloat With So Many Baby Boomers Retiring?

The Obama Administration is trying to figure out a way to keep the Social Security and Medicare funds afloat as the next 20 years will see millions of baby boomers retiring who will be drawing Social Security and taking Medicare benefits but not paying anything in to the funds.  “We’re dealing with the pig in the python,” Shaun Donovan, the president’s budget chief, told The Wall Street Journal.  The key to keeping the math working on this is to have new workers coming into the workforce that make at least the equivalent amount of money to those who are retiring. But younger workers out of college are unlikely to draw salaries as high as those that are retiring, particularly with many jobs being outsourced overseas.  The White House is looking at a number of ideas such as tripling the tax credit that covers child care and implementing a $500 tax credit for couples when both are working.  These could entice more people to come back into the workforce.