What can you tell me about Social Security and Medicare?

In response to my question about what you would like to talk about, Sadie made this suggestion:

“How about a PSA to ‘welcome the new and old/er’. I think many of us have taken care of aging parents with love and kindness, but we’re also taking care of current and retiring representatives, who pay only a fourth of the cost of medical insurance compared to the graduating class of 2011 will have to. The House had no problem enacting health careless for the rest of us, but never touched their own perks.

“I hear that the first wave of baby boomers, at the pace of 10,000 daily for the next 19 years, will begin January 1, 2011. I think a nice cover letter welcoming them to the world of Social Security and Medicare is in order with the caveat…  

“Welcome to the ‘golden years’ and remember all that glitters is not gold and not always covered, unless you’ve been elected to the 112th House of Reps. or served in any other.”

Sounds like a great topic and, as a 58-year-old, a topic that I’m interested in.  Problem is, I am profoundly ignorant in all things Social Security and Medicare.  I’m especially ignorant about what changes are being made to Medicare to save have a trillion dollars (at least that’s what I think I heard was happening).  Can anyone please enlighten me?

Also, as to Sadie’s last comment, I doubt there is a reader in the Bookwormroom who doesn’t think the Congress should be bound by the rules they impose on the rest of us.  But does anyone think that is ever going to happen?