• The Heritage Network
    • Resize:
    • A
    • A
    • A
  • Donate
  • Yes We Must

    Former Supreme Court associate justice Sandra Day O’Connor and former Ambassador James R. Jones kick off this week’s Youth Entitlement Summit in today’s Washington Post:

    Idealistic young voters have turned out in record numbers this year — and not a moment too soon. How our next president represents the interests of young Americans will define not only his legacy but that of an entire generation of political leaders.

    The Government Accountability Office and many, many others have documented the magnitude of the Social Security, Medicare and Medicaid bills that will come due over the next several decades. Even if every dollar of wealth of every millionaire in the United States were magically diverted to pay these costs, 80 percent of the unfunded liabilities forecast for these three programs would remain on the books.

    Social Security Advisory Board Chairman Sylvester J. Schieber has found that honoring today’s promises to tomorrow’s retirees could put the living standards of working households on a path of decline by the mid-2020s, according to a groundbreaking study in the Milken Institute Review. Under this scenario, today’s high school students might never experience a year in the workforce when their tax rates would not rise.

    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.