U.S. MEDICARE AND SOCIAL SECURITY TRUSTEES SHARE ECONOMIC FORECAST ON FRIDAY THE 13TH

Photo by Mykl Roventine

I would like to make it clear that I am not a superstitious person.  No fear of walking under a ladder on Friday the 13th here.  In fact, I didn’t realize that it was Friday the 13th yesterday until late in the afternoon.

Before the earthquake in Japan, I had watched little mainstream news for quite some time.  Since that event, there is so much upheaval in the world that the continuing release of radioactivity in Japan is rarely mentioned.  I have little confidence in the mainstream media, but I have been watching lately.  Mainstream priorities are very poor but one gets a view of how the world sees things.

The bad news continues.

For the Christian, there is the great equalizer:

Jesus is our hope. (1 Tim. 1:1)

I was heading to bed last night and decided to turn the T.V. on and check out C-Span for a second.  What I saw was a short, annual report by the Medicare and Social Security Trustees.

It doesn’t surprise me that Treasury Secretary Timothy Geithner’s report was not included on any of the mainstream news sources that I had seen earlier in the evening. 

If I read C-Span correctly, the report was issued late last evening.  If one has to issue a report and wants the fewest ears to hear it, a Friday evening is the best time.  Weekend news is always very poorly done, so my guess is that this story will begin to get real notice next week if at all.

It is a beautiful morning in Arkansas.  At the same time, the Mississippi River is out of control and so many are still picking up the pieces of the tornadoes that swept through the South.

I have been thinking quite a bit about the first verse of Revelation 21 lately.

“And I saw a new heaven and a new earth; for the first heaven and the first earth passed away…”

I believe in the prophecies in the Bible.  I think the last two chapters are very clear if one takes Revelation as literally as I do.  Actually, the last four chapters are pretty clear.  I’ll admit that I’ve read many ideas about the “Babylon” of chapter 18 and don’t know what it is.  After Mr. Geithner’s report last night, I don’t think the United States is as great a candidate as so many internet sites state.

Regardless of how one views prophecy, most Christians believe that Jesus is coming back.  There are many scenarios about how this will happen.  I think there will be a 7 year tribulation.  I also believe in a “rapture.”

Jesus said, “Then there shall be two men in the field; one will be taken and one will be left.” (Matt. 24:40)

I don’t pretend to know when this rapture will happen. 

My point:  It is hard for me, as a Christian, to hear a 35 minute report by the Medicare and Social Security Trustees like the one last night and not relate it to the nearness of our coming Lord.  (Of course, the fact that Israel is back in the land is a much more important sign than last night’s report.)

The monstrous debt that we have accrued has tied us to a world economy that puts us in financial situation that we used to fear militarily.  At one time we were worried about the “domino effect” that might be caused by Russian Imperialism.  Think of the repercussions if any or a few of the major nation economies collapse.  Some would say it’s not a matter of “if” but “when.”

Our experts in finance have about as much ability to forecast the future as our meteorologists.

All one has to do is listen to the short report given last night to see that. 

My question: How can God bless a nation, or a World for that matter, that has turned its back on Him?

Jesus is our hope.  He is our only hope.

If you haven’t placed your hope and trust in Jesus, I would hope that you would do it today.  He is coming soon.

Chris Reimers

Click here to see the announcement.

Here’s the press release from C-Span:

Medicare and Social Security Trustees report says Social Security and Medicare will run out of money sooner than anticipated.  The annual report, which provides an update on the solvency and cost of the two entitlement programs, blames the sluggish economy for the changes.

The Hospital Insurance fund, which pays for hospital stays of Medicare recipients, will run out in 2024, five years earlier than last year’s report estimate. The Social Security Trust Fund will be exhausted in 2036. When the trust fund runs dry, Social Security benefits do not stop but decrease by 22%
 
The entitlement programs, which cover one-third of the U.S. population, account for a growing piece of the budget. As Washington and the public express concern with the size of the deficit, this report by the Board of Trustees will influence how they fit into the budget debate.

Treasury Secretary Timothy Geithner said Medicare reforms “will be needed.”

In his health care speech Thursday, potential presidential candidate Mitt Romney (R-MA) said making Medicare solvent should be a top priority but did not offer any specifics of how he would do it.

In 2009, nearly 57 million people received Social Security benefits and 46 million people received Medicare benefits.

Last year’s report found that long-term Social Security solvency was largely unchanged, but the 75-year outlook for Medicare improved “substantially” because of the passage of the health care law. Before the passage of health care, Medicare benefits were expected to decrease as early as 2016.

The Board of Trustees consists of six people, the Treasury Secretary, the Secretary of Health and Human Services, the Secretary of Labor and the Social Security Commissioner. The final two members are public employees appointed by the President. 

Click here to see the announcement.
 

http://www.c-span.org/Events/Trustees-Key-Medicare-Program-Will-Exhaust-in-2024/10737421514/

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4 Responses to U.S. MEDICARE AND SOCIAL SECURITY TRUSTEES SHARE ECONOMIC FORECAST ON FRIDAY THE 13TH

  1. Pearl says:

    Awesome, Chris.

    I’m going to refrain from following the link to c-span for now, as I don’t want it to drown out the encouragement I found in your commentary.

    Come quickly, Lord Jesus.

    • Chris says:

      Thank you for the kind words, Pearl. It is very difficult to watch things crumble. I’m glad you saw the encouraging side of this post.

      I couldn’t help but wonder, as the cabinet members were giving this report, if they were considering their own parents and children. They didn’t appear like a happy bunch.

      I don’t understand how anyone can watch the events in today’s world and have hope without our wonderful Savior.

      Amen. Come quickly, Lord Jesus.

  2. mannyr says:

    Great post Chris, spot on. Your comments should be taken to heart by all. Jesus is our only hope. The sad fact is that the people who want to run this country only want to run it from the sespool of greed and coruption.
    Sin corrupts and brings much deception. Hence a very real need for a savior who is the truth, the way and the life. Praise His name.

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