Lies, Damned Lies, and…the Undeniable Truth
Posted November 14th, 2008 at 2.26pm in Entitlements.
Most people are skeptical about statistics, claiming that mathematically-minded people just bend numbers to their will. But when it comes to long term budget projections, economists from the left, right, and center all agree we on an unsustainable course, and that the entitlements—Social Security, Medicare, and Medicaid—are the main driver of the problem.
One more testimony to this fact was recently released by the chief accountant of the US Government, the Government Accountability Office (GAO). Like the Congressional Budget Office and the Social Security and Medicare Trustees, GAO finds that
Our long-term simulations show that absent policy actions aimed at deficit reduction, the federal government faces unsustainable growth in debt…growth in spending on major entitlement programs will absorb the lion’s share of the government’s resources. Just ten years from now…76 cents of every dollar of federal revenue will be spent on retirees and their health care providers.
This kind of consensus makes it impossible to claim that our long-term budget challenges are just a matter of “cooking the books,” and illustrates that something must be done to curtail entitlement spending if this problem is ever going to be resolved.

November 14, 2008 Barb -mn writes:
At every employment that offers a 401k, offers all employees a choice to participate. Those of us that chose to participate has had money taken out of our earned income to be better established at the time of our retirement. A responsible choice. We sacrifice and live with less. We were told that government wasn’t allowed to TOUCH IT. Now, those of us that live with less per paycheck are going to be the providers of everyone else that didn’t choose to participate.
I believe another issue regarding all of ss and medicare and so on, is the magnitude of people that are not or were not obligated to pay in. But they’ll be the first in line to get it. Our future is no longer, due to those that haven’t taken on their rightful, personal, individual responsibilities.