By James Gordon | Full article published at DailyMail.co.uk

Medicare and Social Security are in crisis and face significant challenges according a report from the U.S. Treasury Department which indicates the programs are both underfunded to the tune of a $175 trillion.

The report suggests that if the current trends continue the programs may not be around when the current generation of American children reach retirement age unless substantial changes are implemented. 

Projections suggest that Medicare and Social Security may struggle to meet full benefit obligations within the next decade, with factors like inflation and economic output adding strain due to insufficient funds coming in to support these programs.

'If you take up the entire economic output of every country on planet Earth, it's about $100 trillion. The unfunded liability that U.S. taxpayers face over the next 75 years is $175 trillion,' Adam Andrezejewski of openthebooks.com stated.

In showcasing the magnitude of the situation, Andrzejewski compared the unfunded liability to the entirety of federal spending since the inception of the United States in 1787.

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