Re:The frequent fliers who flew too much
by InclinedPlane on Monday May 07, 2012 @02:10PM
(#3940177)
That's nice, but it doesn't reflect reality. In reality it will require a great deal of budgetary pain just to get the government to pay out the social security trust fund. That represents a debt the US has made to itself but we haven't been very good at paying off even those loans. If we don't make any hard choices such as raising other taxes or cutting overall spending then we'll end up with an even greater increase in our national deficit and an accelerating buildup of our national debt. And that will cause the whole system (the economy, the government, everything) to come crashing down long before the so-called social security trust fund "runs out".
Right now a social security payments surplus is subsidizing many other government programs, when that subsidy ends within the next decade it will cause hardship.
More so, social security is on a glide slope to begin running an absolute deficit in about 25 years. At that point the trust fund will be emptied and there won't be as much money coming in as going out. That's a pretty serious problem.
Medicare is even worse off, by a huge margin.
Yes, we can change medicare and social security and perhaps fix these things, but right now the train is on a set of tracks which are aimed directly at the edge of a cliff. We can also potentially balance the whole budget and pay down our debt as well, but that isn't happening either. Look at the EU and their budgetary crises right now. The public doesn't want to pay down their debts, they don't want "austerity measures", they don't want to pay their bills, they want benefits to remain forever high regardless of whether that's financially feasible. And they are willing to vote and riot to have their way.
Social Security and Medicare are not sustainable in their current forms. Period. They need fixing. Period. Fixing them will be really motherfucking hard (politically and financially) for our country. Period.
Right now a social security payments surplus is subsidizing many other government programs, when that subsidy ends within the next decade it will cause hardship.
More so, social security is on a glide slope to begin running an absolute deficit in about 25 years. At that point the trust fund will be emptied and there won't be as much money coming in as going out. That's a pretty serious problem.
Medicare is even worse off, by a huge margin.
Yes, we can change medicare and social security and perhaps fix these things, but right now the train is on a set of tracks which are aimed directly at the edge of a cliff. We can also potentially balance the whole budget and pay down our debt as well, but that isn't happening either. Look at the EU and their budgetary crises right now. The public doesn't want to pay down their debts, they don't want "austerity measures", they don't want to pay their bills, they want benefits to remain forever high regardless of whether that's financially feasible. And they are willing to vote and riot to have their way.
Social Security and Medicare are not sustainable in their current forms. Period. They need fixing. Period. Fixing them will be really motherfucking hard (politically and financially) for our country. Period.