It's increasingly obvious that Congress and the president (regardless of the party in power) will deal with the political stink bomb of an aging society only if forced. And the most plausible means of compulsion would be for Social Security and Medicare to go bankrupt: trust funds run dry; promised benefits exceed dedicated payroll taxes. The sooner this happens, the better.
That the programs will ultimately go bankrupt is clear from the trustees' reports. On pages 201 and 202 of the Medicare report, you will find the conclusive arithmetic: Over the next 75 years, Social Security and Medicare will cost an estimated $103.2 trillion, while dedicated taxes and premiums will total only $57.4 trillion. The gap is $45.8 trillion. (All figures are converted to "today's dollars.")
The Medicare actuaries then note what happens once the trust funds for Social Security and Medicare's hospital insurance program are depleted: "No provision exists under current law to address the projected (Medicare) and (Social Security) financial imbalances. Once assets are exhausted, expenditures cannot be made except to the extent covered by ongoing tax receipts." Translation: Benefits would fall.
Social Security checks would shrink; some Medicare bills wouldn't be paid in full — and the shortfalls would progressively worsen. Retirees would scream. Hospitals might shut. No president or Congress would abide the outcry. Even the threat of imminent bankruptcy would rouse them to action. But restoring the programs' solvency would confront Congress and the White House with fundamental questions.
- The more you drink, the soberer you get!
- The more you read, the dumber you become!
- The more sex you have, the less chance you have of becoming pregnant!
- The more houses that are foreclosed, the richer the homeowners are!
2 comments:
Ah, the lunatic fringe weighs in.
Let's start here: end-of-life counseling. The GOP's ship of fools called them 'death panels' and killed off what is a damned important conversation to have. Surely you have seen the data about the costs associated with the very end of life? I can find them for you if you are somehow not aware. BUT, if that emminently reasonable conversation could have taken place like grownups, there's a potential massive savings right there. My parents certainly have told me that they want the eskimo 'put me on the ice floe' solution if they are terminal... and having that conversation is all that the 'death panels' were really about. So... fail for your team, there.
So, we are now not allowed to have an adult conversation about end of life care. Fine. Now what about all the problems associated with lifelong poor healthcare? If everyone has the capacity to maintain their health rather than wait until problems are dire, we would save (some astronomical number of $s). Would decreasing the number of major problems people claim decrease the costs? (Yes...)
The alternative is to cancel all SocSec and Medicare programs. Just cull them from the books. One go, like a band-aid. Which is fine with me... but think of all those ancient Reoublicans that would suddenly die is destitution. You wanna explain to them that you weren't capable of being a big boy and having the relevant discussions to maintain their lives?
How very conservative-troglodyte of you. Kill off the discussion of the relevant issues that might mean saving the programs, then complaion about the costs that you are standing in the way of curbing. Way to big it up.
"Reality has a well-known liberal bias"
You pathetic, cowardly, redumbumbled cultist.
There, thought I would "elevate the dialogue" with a quick ad hominem response. End of life counseling is absolutely essential, no one says it is not. But that is a discussion to be had between and individual, their family, their priest or rabbi, their attorney, and their doctor NOT some gnome in Washington. Why can you statist simpletons bent on control, because you think you know better get that through your thick cro-magnon skulls?
You follow that tomfoolery up with a complete disconnect. The point I was making is the government has already made a hash of the things they currently control, why not fix those issues first before starting another disaster? And don't give me the "it will save a lot of money" hoohah. Your side's OMB has already laid waste to that fantasy.
But, in fairness, maybe you were educated in the Pete Stark school of economics.
As for cute, sophomoric sayings that you love to insert, I would just say the statement is true - in the fantasy world you obviously live in.
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