The 34 Trillion Dollar Problem: The 800 pound gorilla for the U.S. Budget

Tax and spending plans must Include Medicare. We'll hear plenty of budget proposals over the next eight months. But without changes to Medicare, they're meaningless. Medicare will eventually overwhelm everything else in the budget, except for the interest on the mushrooming debt to pay for it.

money.cnn.com...

While the Democratic presidential candidates unveil elaborate plans for healthcare and John McCain as well as the other candidates are speaking of huge tax cuts, there is an enormous problem that will soon overwhelm the U.S. Budget. This is Medicare and its joint programs which already make up 2/3 of the U.S. Budget. With the baby boomer generation about to retire it will basically overwhelm the U.S. Budget totally. And with the Congressional vault filled with IOU's, there will be no way to pay for everything.

This is the problem with Welfare, Social Security, Medicare, Medicaid. I am not saying Welfare and Medicaid should be abolished, but the government cannot be expected to pay for people when they get older. It is the responsibility for the individual to SAVE throughout their life. We live in a Capitalistic society meaning the government should be out of most things. And the American government cannot obviously afford their plans that they have already instated let alone the plans the potential presidents talk about (such as Universal Healthcare!) Wealfare also needs to be totally redesigned.

If you want to spend a 35% income tax and taxes raised on oil and everything else, then go ahead and support these plans leading to untold future economic problems. But I could use my own money to take care of MYSELF as others should as well.

The government is not paying for people on Social Security. I don't know where you get this notion. The people are funding Social Security and Medicare. The government collects FICA taxes, The Federal Insurance Contributions Act, to fund Social Security and Medicare. What we need is responsible government that doesn't appropriate those funds to pay for other programs.

I have paid into the FICA fund all my life through payroll deductions, since I started working at 11 years old, and I will be damned if I will let you tell me I am not entitled to Social Security benefits now that I am disabled, that some weasel politician can take my hard earned money for this program and not provide the service mandated by it.

Please do a little more research before you go spouting this drivel. The problem is not Social Security and Medicare, the problem is corrupt politicians misappropriating funds.

FICA

Originally posted by Icarus Rising
The government is not paying for people on Social Security. I don't know where you get this notion. The people are funding Social Security and Medicare.

The government doesn't "pay" for anything. The people fund everything through their taxes. If you read the article, which I doubt you did because all you did was educate me on FICA taxes and get your panties in a bunch, you would know that the Federal Budget cannot accomodate the increase of social security and especially medicare recepients without expanding which means either 1)borrowing or 2) raising taxes. The former-we already borrow and the interest on that borrowing would also take up more room on the budget so it is a vicious cycle.

Nobody is saying that people who payed into Social Security (which we really didn't, it was just transferred , there is not a "fund") shouldn't get the same treatment. People are saying that maybe the people who payed into these programs will NOT be ABLE to in the future.

I posted the article as a criticism for other programs such a universal healthcare which would just add more debt. And not the good debt either!

[edit on 17-4-2008 by RetinoidReceptor]

I apologize for the tone of my response. I am very tired of the government going after Social Security. They were riding high on it for many years while us baby boomers were paying into it and they were skimming the money for their own questionable purposes. "Promote the general welfare" my hairy behind. Self-serving hypocrites are what they are. They've bankrupted the nation, and now they are running for cover and looking for scapegoats as the tab comes due. Please don't give them a leg up in the process.

You are right, I didn't read the article. I read your post, and I didn't like it one bit. I am not about to read the link you are using to back it up.

Originally posted by RetinoidReceptor
It is the responsibility for the individual to SAVE throughout their life. We live in a Capitalistic society meaning the government should be out of most things.

The government should be OUT of every aspect of our personal lives. I don't want some commie socialist regime handling or dictating ANY aspect of my personal life for me. They have no moral right to dictate my personal life and decide how I should live, sleep, eat, work, dress, worship, aspire, retire, prosper, or fail. A government should simply protect us and coordinate infrastructure issues/projects. I don't want any government to be in the business of managing ANY aspect of MY life for me! I am a man, not a little boy. I'm a fully grown mature responsible self-supporting adult, and not some stinking commie wussy monkey on someone else's back needing socialist programs and handouts to take care of ME for ME. I don't think a government should be our mommy and daddy and be responsible for personally take care of our sorry asses for us. All government "socialist" programs should be abolished.

reply to post by Divinorumus


What you want, what I want, what anybody wants, for that matter, is one thing. The way things are may be entirely another. I have no problem with your approach to government. The federal government was originally envisioned to have three basic responsibilities: national defense, a unified currency, and interstate commerce. That is fine by me.

I would have no problem with the federal government settling my Social Security and paying me a reasonable lump sum to end my claim. I do have a problem with them spending the funds on their pet projects and screwing me on a 25 year investment in what is basically an insurance policy against old age and infirmity. Get it?