Social Security and Medicare, individual versus collective risk and responsibility.

Sheila Burke, Eric Kingson, Uwe Reinhardt, eds., Social Security and Medicare, Individual versus Collective Risk and Responsibility (National Academy of Social Insurance, 2000). 232 pp., $20.95 paper.

Imagine we are all 30 years olden The year is 2031. Instead of 40 million Americans receiving monthly income from Social Security and health care through Medicare, there are now 80 million. Imagine the value of the dollar is one-third less than it was in 2001 and that health care delivery is almost completely through drugs and biologicals. Except for trauma centers, hospitals are obsolete. The 401 (k) program has made fully-funded company pensions a thing of the past. Are Social Security and Medicare ready to fill in the gaps?

Today, satisfaction levels for both of these programs are at an all time high. Yet, many are skeptical that Social Security and Medicare can keep pace with changing demographics and changing demands. Currently, Social Security and Medicare are in good financial …