In a short paragraph, make recommendations in solving the Social Security & Medicare deficit problem. Support recommendations with facts.

The main issue with the continued funding of both of these
government entitlement programs is that the baby boom generation, those born between
1945 - 1961, our nation's largest population group, is now in the process of retiring,
and as they do, the demands on these programs for services and payouts will be greater
than the taxes that come in to support the programs from everyone
else.

I can't do all of your research for you, but here are
some possible recommendations for you to look in to for each
program:

Social Security
-

1) Raise the retirement age to 70 before you can receive
benefits.  This alone would save an estimated $50 - $70 billion dollars
annually.

2)  Decrease the amount paid out to each retiree
- savings dependent on amount of the cut

3)  Increase the
social security tax rate paid by workers from the current 7% to
8%

4)  Eliminate benefits to those with an annual income of
over $1,000,000 - people who do not need Social Security to
survive

Medicare - An
additional problem with this program is how expensive medical care is.  The recent
Health Care Reform effort sought to make care more affordable, which would immediately
help Medicare.  It remains to be seen if that will
work.

1)  raise the age at which people receive benefits to
67 from 65

2)  Raise Medicare premiums to $150 per month
per retiree

3)  Raise the current Medicare tax rate from
2.5% to 3.5%

4)  Eliminate Medicare coverage for those with
a net worth of $20 million or more