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The 2 biggest social programs in the US over the past 70 years are really what's bankrupting the country.
I know healthcare is being hotly debated this year.
But why doesn't Obama tackle Medicare and SSN? Yeah I know Medicare is big chunk of healthcare but seems like the government is exempting most of the current medicare benefits from reform. (yes I know they are trying to eliminate programs like Medicare Advantage), but overall, they aren't doing much to tackle Medicare costs.
Don't even get me started on SSN. It's the biggest Ponzi scheme in the world. Makes Bernie Madoff look like an angel.
I'm not trying to pick on Seniors or the disabled who receive these benefits. But those two programs really need reform.
Why doesn't Obama want to tackle this issue? I haven't heard a word out of his administration on this matter.
Pelosi said she's going to get $500 billion by cleaning up either medicaid or medicare fraud and abuse.
And that $500 billion will go towards the new public healthcare plan.
Pelosi said she's going to get $500 billion by cleaning up either medicaid or medicare fraud and abuse.
And that $500 billion will go towards the new public healthcare plan.
Haven't read anything since that.
Yeah, once Pelosi gets rid of that waste, the lobbyists will add another 500 billion in "pork" to fund their pet projects and we end up are ground zero again.
What about SSN? More and more people are taking early SSN benefits at age 62 and aren't even waiting around till 65 (or in the future 67). There will be no SSN when most younger workers like me retire and we would have contributed 40 plus years into the system when it's all said and done.
I recall when Bush was talking about privatizing SS. People went into an uproar. I wonder how the government will scare old people in the future ? Like 200 years from now.
Whats bad is Obama says we are going to cut and save money from Medicare. Well if he knew about all this money that was being abused and wasted why didnt he do something while a senator?
Pelosi said she's going to get $500 billion by cleaning up either medicaid or medicare fraud and abuse.
And that $500 billion will go towards the new public healthcare plan.
Haven't read anything since that.
Well sure, that makes sense - this administration robbed the Treasury, now they're going after profits from their own racketeering cells!
How come no politician wants to reform Medicare and SSN?
The Republicans don't want to get borked with the usual leftist smears ("See? You're cruel, heartless, and only want to hurt old people!!!")
The Democrats don't want to lose the biggest cash cows the nation has ever seen. "Contributions" that are supposedly paid into the SS and Medicare Trust Funds, actually get spent immediately on other programs, with nothing but IOUs left in the Trust Funds. Nearly half the national debt is now owed to the SS, Medicare, and other Trust Funds, and can only be redeemed by raising taxes or reducing spending on other programs.
And NO ONE wants to takcle the job of coming up with the funds to redeem those IOUs... even though it will become necessary very shortly as payouts from SS etc. start exceeding contributions into them.
BTW, if a financial officer at a private-sector company treated his company's funds that way, he'd be fired for fraud and financial malfeasance, and thrown in jail for a very long time. It's illegal on many levels, as well as being financially irresponsible to the point of destructiveness.
Fundamentally, we can't reform those programs because the American voters are too immature to deal with the necessary cuts and changes in a rational manner. Instead, we will have the most vicious, protracted, and expensive lobbying fight in modern times. There will be massive consternation on both sides. Legislators who stick their necks out will get deposed in primaries or general elections. Then the other legislators will back off.
The path of least resistance will become the default course, and that's the one we will take. That will probably involve jacking up payroll taxes on younger workers, and raising taxes in general.
Fundamentally, we can't reform those programs because the American voters are too immature to deal with the necessary cuts and changes in a rational manner. Instead, we will have the most vicious, protracted, and expensive lobbying fight in modern times. There will be massive consternation on both sides. Legislators who stick their necks out will get deposed in primaries or general elections. Then the other legislators will back off.
The path of least resistance will become the default course, and that's the one we will take. That will probably involve jacking up payroll taxes on younger workers, and raising taxes in general.
Very true, very true. I don't think our government is brave enough to suggest cuts.
So what essential will happen after Obama/Pelosi/Reid "fix healthcare" we would still have a major problem affecting more than 20% of the GDP?
Seems like no one want to touch SSN or Medicare?
I seriously don't know what the future will hold for the US. I was going to take advantage of the 2010 tax provision to convert all of my pretax retirement account over to a Roth IRA and pay the taxes on the conversion in 2011 and 2012.
But now, I am afraid the government will somehow find a way to "tax, or come up with some "fee" on my Roth IRA withdraw 30-35 years down the road to keep on paying for SSN and Medicare programs. Than the government will determine I am withdrawing too much from my post-tax Roth IRA, they will levy a 90% tax on my SSN benefits when I finally qualify.
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