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NCPA - Brief Analysis #490, How Will We Pay for Social Security and Medicare?: "Due to changing demographics and rising medical costs, the share of the nation's output consumed by the elderly will rise. It is this rising economic share (financed in large part by Social Security and Medicare transfers) that will drive a growing tax burden. Saving more now for retirement reduces the burden on future taxpayers while at the same time increasing the nation's capacity to produce.

This generation of workers faces a clear choice. Will they tighten their belts a bit and save more? Or will they ask their children and grandchildren to choose between reneging on promises to retirees, going without government services or paying exorbitant tax rates? "