- Sep 25, 2001
- 29,391
- 2,738
- 126
Social Security + Medicare grow automatically with average wages or health care costs, which generally increase faster than inflation. Thus, these programs, which require no annual renewal, consume greater and greater shares of domestic spending every year.
The 2 obvious solutions is to curb payments and/or raise the elibility age. The AARP is fighting to prevent this.
This reminds me of the Unions fighting to keep all their perks while GM was sinking. It wasn't until GM reached the breaking point and it became a crisis that something was done.
It's also kinda like NYC going bankrupt and having a financial control board take over to make cuts, and fire people because the elected politicians at that time were spineless to make hard choices.
For the USA, i predict nothing is going to happen to solve our problems with the aging population till it becomes a crisis where we can't borrow any more $, and default on something, like a soldier's paycheck. (Military spending is the next highest in spending)
Do you think there has to be an IMMEDIATE crisis before anything gets done about our govt's out of control costs?
Why/Why not?
The 2 obvious solutions is to curb payments and/or raise the elibility age. The AARP is fighting to prevent this.
This reminds me of the Unions fighting to keep all their perks while GM was sinking. It wasn't until GM reached the breaking point and it became a crisis that something was done.
It's also kinda like NYC going bankrupt and having a financial control board take over to make cuts, and fire people because the elected politicians at that time were spineless to make hard choices.
For the USA, i predict nothing is going to happen to solve our problems with the aging population till it becomes a crisis where we can't borrow any more $, and default on something, like a soldier's paycheck. (Military spending is the next highest in spending)
Do you think there has to be an IMMEDIATE crisis before anything gets done about our govt's out of control costs?
Why/Why not?
Facebook
Twitter