• The Heritage Network
    • Resize:
    • A
    • A
    • A
  • Donate
  • Ending the Entitlement Tsunami

    Last year Chairman Kent Conrad (D-N.D.) and ranking Republican Judd Gregg (R-N.H.) proposed legislation to create a task force to study the long-term fiscal problem and propose solutions. Given that spending on Social Security, Medicare and Medicaid is set to double over the next 25 years, something must be done about the growth in entitlement spending.

    Although there has been some reluctance on the part of others (including House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid) to create the task force, CQ reports that Budget Committee members hope to bring the issue to a vote this year.

    This is a step in the right direction. First, voting up or down on legislation to create a task force would require members to go on record about whether or not they are willing to set partisanship aside and have a serious conversation about America’s long-term fiscal problems. Second, if crafted successfully, proposals from the task force could help curb the unsustainable trends in entitlement spending.

    Any such process should include a serious conversation with the American people about the hard choices we face and build support for changes — blancing the needs of the young and the elderly. Currently, every child born in America carries a $175,000 debt burden to pay for Social Security, Medicare and Medicaid. As the Congressional Budget Office confirms, our long-term fiscal outlook is grim but a task force could help compel a conversation that would help alleviate the problems ahead.

    Posted in Economics [slideshow_deploy]

    Comments are closed.

    Comments are subject to approval and moderation. We remind everyone that The Heritage Foundation promotes a civil society where ideas and debate flourish. Please be respectful of each other and the subjects of any criticism. While we may not always agree on policy, we should all agree that being appropriately informed is everyone's intention visiting this site. Profanity, lewdness, personal attacks, and other forms of incivility will not be tolerated. Please keep your thoughts brief and avoid ALL CAPS. While we respect your first amendment rights, we are obligated to our readers to maintain these standards. Thanks for joining the conversation.

    Big Government Is NOT the Answer

    Your tax dollars are being spent on programs that we really don't need.

    I Agree I Disagree ×

    Get Heritage In Your Inbox — FREE!

    Heritage Foundation e-mails keep you updated on the ongoing policy battles in Washington and around the country.

    ×