We need to prepare for the Baby Boomers and start cutting back on government spending. I think Bush’s budget did not go far enough in trimming government coffers.
In about 10 – 15 years, there will be no way that we can afford to pay for Social Security, Medicare, and Medicaid.
We could radically increase taxes. However, this will cripple future generations. We can increase the budget deficit. But it will lead to serious systemic risks to our economy. We should reduce benefits promised during a previous era of prosperity in our country. Of course, we can try a combination of all three, but we would be left with a situation akin to eurosclerosis.
We must make the painful choice of reducing benefits and reshaping Social Security, Medicare, and Medicaid to care for the very neediest in our country. It will be hard, but the demographic trend is inexorable.
Reality shouts that this is not a Republican or Democrat issue.
We need to prepare for the Baby Boomers and start cutting back on government spending. I think Bush’s budget did not go far enough in trimming government coffers.
In about 10 – 15 years, there will be no way that we can afford to pay for Social Security, Medicare, and Medicaid.
We could radically increase taxes. However, this will cripple future generations. We can increase the budget deficit. But it will lead to serious systemic risks to our economy. We should reduce benefits promised during a previous era of prosperity in our country. Of course, we can try a combination of all three, but we would be left with a situation akin to eurosclerosis.
We must make the painful choice of reducing benefits and reshaping Social Security, Medicare, and Medicaid to care for the very neediest in our country. It will be hard, but the demographic trend is inexorable.
Reality shouts that this is not a Republican or Democrat issue.