Ever now and then we get a vivid reminder that America’s biggest threat are not a handful of Facebook ads bought by the KGB, nor Iran’s already brittle regime, nor Venezuela’s hyperinflating basket case of an economy, but over $100 trillion in unfunded future liabilities. Today was one such day, because that’s when the board of trustees for Social Security and Medicare reported that Medicare’s hospital insurance fund – also known as Medicare Part A – will be depleted in 2026, while Social Security program costs would exceed total income in 2020, for the first time since 1982.
