As of 2009, the difference between what is owed to recipients of Social Security and Medicare and the amount available to meet the obligations now and into the future is now 7 times larger than the U.S. economy. Medicare’s unfunded liability is currently 5 times greater than that of the Social Security gap. If taxes were to be raised to meet the unfunded liabilities within a generation (by the year 2054) 1 out of every 3 payroll tax dollars would be consumed (in effect doubling…