Quote:
Originally Posted by Wandatime
By just about all accounts, getting our debt under control requires reducing spending in three main areas: Medicare, medicaid, and social security.
In a June 2010 opinion piece in the Wall Street Journal, former chairman of the Federal Reserve, Alan Greenspan noted that "Only politically toxic cuts or rationing of medical care, a marked rise in the eligible age for health and retirement benefits, or significant inflation, can close the deficit."[75] If significant reforms are not undertaken, benefits under entitlement programs will exceed government income by over $40 trillion over the next 75 years.[74]
74. United States Congress, Government Accountability Office (December 17, 2007). FY 2007 Financial Report of the U.S. Government, p. 47, et al. U.S. Government Accountability Office (U.S. GAO). Retrieved February 3, 2011.
75. Greenspan, Alan (June 18, 2010). "U.S. Debt and the Greece analogy". Opinion Journal [online]. Retrieved February 3, 2011.
Any takers? Anyone willing to get their medicare or social security significantly reduced for the good of the country? |
I agree totally with all that you present,
Keep in mind, that all social security reductions, AND THERE WILL BE THOSE DEDUCTIONS and all the other you mention will not effect those already in those programs.
What we need is leaders with the moxie to do the right thing. This has been proposed over and over and over and always never makes it to the floor.
You are correct and it will happen or we go down the tube. Anyone with any knowledge will agree, which is why I am amazed at how we just propose spending...NEW ones I am speaking of, like the college tutition, etc. We cannot afford it.
And not wanting to get p.......l BUT the Affordable Care Act is getting more expensive and health costs are going UP not down. Health care is one of the biggest parts of the GDP and needs to come down. We need someone to start to worry about our children and grandchildren. They,already will be wallowing in debt for so long.
Then today while folks are talking about our manufacturing rebirth, on CNBC, they issue this...
"the employment participation rate remains near historic lows. CNBC's Scott Cohn reports one new study calls the idea of a renaissance in manufacturing a myth. "
Manufacturing myth?
All you say is correct. My opinion we need to get back to the basics...tax reform...employment....ALL entitlement programs reviewed. There are a lot of unpopular items to be discussed that have been skirted for sometime now.