Madrick: Yes, his worries are entirely unfounded. He's been exaggerating this issue forever. Here's the simple arithmetic according to the Congressional Budget Office forecast. The benefits for Social Security now come to nearly 5 percent of gross domestic product. The worst they will ever get when the entire baby boom retires is 6 percent of GDP. Now if you take one percentage point of GDP, which is now $15 trillion, so 10 percent is $1.5 trillion, and 1 percent is $150 billion, that's the increase. It sounds like a lot of money, but it comes from only 1 percent of GDP. People have to get that very clear in their heads. Medicare and Medicaid will rise much more rapidly as a proportion of GDP.
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