Every year, the Trustees of the Social Security and Medicare funds provide an update of how the funds are doing.

Unfortunately, Medicare is in worse shape than Social Security.

In 2008 and 2009, Medicare's Hospital Insurance (HI) Trust Fund is paying out more in hospital benefits and other expenditures than it receives in taxes and other dedicated revenues. Just like the Social Security fund, the shortfall is paid by redeeming trust fund assets. Because Medicare is expected to pay out more than it receives every year, the Trustees report that Medicare funds will be depleted in 2017 (Social Security is expected to be depleted in 2037).

There's more bad news about the Medicare Supplementary Medical Insurance (SMI) Trust Fund, which pays for physician services and the prescription drug benefit: SMI expenses will continue to grow substantially faster than income from the economy and beneficiary payments.

Here's a quote from the Medicare Trustees report of 2009:

"As we reported last year, Medicare's financial difficulties come sooner--and are much more severe--than those confronting Social Security.

"While both programs face demographic challenges, rapidly growing health care costs also affect Medicare. Underlying health care costs per enrollee are projected to rise faster than the earnings per worker on which payroll taxes and Social Security benefits are based."

The Medicare Trustees report that in 2008 Medicare's annual costs were about three quarters of Social Security's, but Medicare costs are expected to surpass Social Security costs by 2028.

As they do every year, the Social Security and Medicare Trustees call on politicians (and citizens, who can put pressure on politicians) to take steps to slow the bankruptcy of the Social Security and Medicare reserves:

"The financial challenges facing Social Security and especially Medicare need to be addressed soon. If action is taken sooner rather than later, more options will be available, with more time to phase in changes and for those affected to plan for changes."

Every year, the Trustees of the Social Security trust funds report on the current and projected financial status of the two programs.

The economic recession depleted Social Security funds faster than anticipated in 2009, and this is expected to continue in 2010. Here's a quote from the 2009 Social Security Trustees Report:

"The financial condition of the Social Security and Medicare programs remains challenging. Projected long run program costs are not sustainable under current program parameters.

Social Security's annual surpluses of tax income over expenditures are expected to fall sharply this year and to stay about constant in 2010 because of the economic recession, and to rise only briefly before declining and turning to cash flow deficits beginning in 2016 that grow as the baby boom generation retires."

The Trustees plan to make up the shortfall by redeeming trust fund assets, and this will continue until the reserves run out. The Social Security fund reserves are expected run out in 2037, unless something is done to replenish Social Security funds in the meantime.

Unfortunately, seniors are often the target of scams, so it's especially important for older adults to be aware of consumer protection information that can help them avoid senior scams.

The FBI offers a comprehensive list of the most common senior scams, including insurance, telemarketing, prescription drugs, "anti-aging" products and reverse mortgage scams.

To highlight the need for consumer protection and education, the U.S. government also offers a free fraud information packet of practical tips on a variety of topics to help you minimize your risk of fraud and identity theft.

One way to guard against identity theft is to order free credit reports and review them regularly to watch for any unauthorized activity that may signal identity theft has occurred.

If you feel you have been the victim of fraud or a senior scam, Consumer Fraud Reporting offers information and resources to report it.

I'm a big believer in volunteering. In fact, my volunteer efforts led me to go back to school and change careers. You just never know where your inspiration will come from.

With the economic downturn we've experienced, many people need to focus their time on earning money, but if you have some spare time and would like to help others, the US government has created a list of worthy organizations you might not know about. Go to USA.gov and click the link Volunteer Your Time.

Serve.gov is a special government-sponsored site that connects volunteers with worthy organizations. Enter keywords for topics that interest you and your location, and you'll be connected to organizations and projects that need your help.

The U.S. Department of Agriculture estimates that the number of older adults seeking help from local food pantries increased 81 percent from 2006 to 2008, according to an Associated Press story about how the recession has affected seniors' ability to pay for food.

If you are an older adult who needs help getting food--or you know someone who does--there are federal and state programs that can help you. If you are over age 60 or have a disability, you may qualify for the new federal food stamp program called SNAP (Supplemental Nutrition Assistance Program), which replaces the Federal Food Stamp Program.

The Emergency Food Assistance Program (TEFAP) provides prepared meals to needy people, including the elderly.

Eldercare Locator is a great resource for senior community services of all kinds, including food.

For a complete list of government-sponsored food assistance programs, see Nutrition Assistance Programs from the USDA.

Where were you when Kennedy was shot? People over a certain age can answer that question without missing a beat.

The tragic death of President John F. Kennedy on November 22, 1963--46 years ago this coming Sunday--was a defining moment in the life of every American who was old enough to have even the slightest understanding of what was going on at the time.

JFK was not the first U.S. president to be assassinated, and his violent death was no more tragic than those of his younger brother, Bobby, or Dr. Martin Luther King, Jr. just a few years later, yet it shocked and saddened us in a way no other tragedy before or since has ever done.

When Kennedy was inaugurated in January 1961, he was the youngest person ever to hold the office. Brilliant, charismatic and energetic, Kennedy inspired the nation and the world. In his inaugural address, Kennedy spoke the now famous lines:

"And so, my fellow Americans: ask not what your country can do for you--ask what you can do for your country.

"My fellow citizens of the world: ask not what America will do for you, but what together we can do for the freedom of man.

"Finally, whether you are citizens of America or citizens of the world, ask of us here the same high standards of strength and sacrifice which we ask of you. With a good conscience our only sure reward, with history the final judge of our deeds, let us go forth to lead the land we love, asking His blessing and His help, but knowing that here on earth God's work must truly be our own."

When he died less than three years later on that street in Dallas, the hope and optimism he inspired died with him--at least for awhile. Other leaders would rise up to carry on the work and the vision. But on that sad day in Dallas, a bright light was extinguished, and those of us who witnessed the descending darkness will never forget.

Where were you when you heard Kennedy was shot? Share your memory with Senior Living readers, below.

_{Photo: National Archives/Getty}

The U.S. jobless rate just seems to get bleaker and bleaker, but dig a little deeper and you may find a few trends that add up to good news for older workers.

In October, the Bureau of Labor Statistics (BLS) announced the jobless rate had increased to 10.2 percent, but it turns out joblessness is not equal for all age groups. In fact, workers from the baby boom generation and above are the only age group whose job prospects improved during the past few months. And that's not the only good news.

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Widely reported news from UCLA suggests that boomers will enter their 60s with more disabilities than the previous generation.

Researchers looked at results from the National Health and Nutrition Examination Surveys (NHANES) during two different time periods--1988-1994 and 1999-2004, and studied how the levels of disability changed for people who were 60 to 69, 70 to 79, and 80-plus in four areas:

1. Activities associated with daily living: walking from room to room; getting into and out of bed
2. Performing household chores or preparing meals
3. Mobility: walking one-quarter mile; climbing 10 steps without stopping for rest
4. Functional limitations: stooping, crouching or kneeling

How did they do?

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After reading news stories about lead in lipstick, phthalates in cosmetics, and trying (almost) in vain to find shampoo without sodium laurel sulphate or sodium laureth sulphate (foaming agents made from sulfuric acid, monododecyl ester, and sodium--no thanks), I decided to look for safe cosmetics that are made without known toxins and carcinogens.

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FDA concerns about the safety of two testosterone boosters from Endo Pharmaceuticals may delay their approval, but safety concerns haven't kept testosterone sales from increasing 25 percent in the past year (while Viagra sales have dropped 8 percent), according Business Week.

Despite research studies, including one from the University of North Carolina, which show that testosterone boosters do not slow aging, they are commonly prescribed for older adults. Men use testosterone boosters to treat erectile dysfunction, and women use them hoping to increase sexual satisfaction.

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