As elections approach, sweeping generalizations have a certain allure that often energizes the frustrated and captivates the hopeful. However, it's essential that we as voters remember that things that seem too good to be true typically are. Here are a few warnings.
First, as far as our finances go, beware of politicians promising that they won't touch Social Security and Medicare. In reality, they'll have no choice. For one thing, if they keep this hollow promise, Social Security benefits will be cut across the board in 2033 by over 20 percent. According to the Committee for a Responsible Budget, that's a cut of between $12,000 and $17,000 annually for a traditional retired couple. Medicare faces the same predicament for a variety of reasons.
