Let’s take the first of the Big 3, Social Security. When your parents retire, they can choose to receive Social Security checks, beginning at age 62. Currently, they are paying for their parents, and later we will pay for them. But America as a whole is aging. By 2047 around 21% of the population will be over 65 as opposed to the 12% now. By 2018, the Social Security and Medicare Trustees report that Social Security will begin to pay out more than it collects in taxes, meaning either higher taxes for you or slashed benefits for your parents. And out of the Big 3, Social Security is the least of our worries.

Medicare and Medicaid are already paying out more than they take in from payroll taxes. Their costs are expected to increase five times faster than Social Security’s. They are also going to be much harder to fix.

If we do nothing, by 2028, the Big 3 will consume all of the federal revenue. This means no other program will be able to get a dollar’s worth of funding. Think homeland security, education, clean energy, and housing. This problem is real so get out there and start taking hold of your future!