Tag Archives: entitlement reform

Perspectives on last week’s debt debate: two sides of the same coin

How the “left” sees the recent debt ceiling debate/crisis…

And how the “right” sees it…

Is it any surprise that the politicians had a hard time finding a middle ground? They don’t see eye to eye on what the problem is in the first place.

Also, what’s with this “super committee” that’s lacking any deficit hawks? Or Rep. Jason Chaffetz, for that matter? No, seriously. Why is he not on it.

In the meantime, Utah has its act together. Wonder if the feds might take a page from our book?

(h/t to Geeks are Sexy)

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From the WSJ: “Republicans and Mediscare”

WASHINGTON, DC - APRIL 05:   U.S. Rep. Paul Ry...

Image by Getty Images via @daylife

The reality is that Medicare “as we know it” will change because it must. The issue is how it will change, and, leaving aside this or that detail, the only alternatives are Mr. Ryan’s proposal to introduce market competition or Mr. Obama‘s plan for ever-tightening government controls on prices and care. Republicans who think they can dodge this choice are only guaranteeing that Mr. Obama will prevail.

via Review & Outlook: Republicans and Mediscare – WSJ.com.

Also, “Why Gingrich has no chance to win the nomination for the White House.”

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Entitlement Reform: Start with Social Security

INFOGRAPHIC - Why Social Security Needs To Be ...

Image by Third Way via Flickr

It is almost cliché for my generation to joke that  Social Security will be gone before we retire.  It may be a stretch, but it really is no joking matter. Social Security is in a bad way, and it is getting worse.

The number of Social Security recipients is  growing faster than the number of people paying into it. It is a likely scenario that the Social Security trust fund (which doesn’t really exist, anyway) will be gone by the time I stop paying in and start asking for it back.

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Book Review: “Comeback America: Turning the Country Around and Restoring Fiscal Responsibility” by David M. Walker

Cover via Amazon

As the former comptroller general of the United States, David Walker knows a little about the fiscal workings of the modern federal government. For fifteen years, he served under both Republican and Democratic presidents from Reagan to Clinton to the Bushes), and had a unique opportunity to call into question the decisions that have lead to our current fiscal woes. Continue reading

While the world watches, the world’s largest debtor quibbles…

“The longer Congress fails to act, the more we risk that investors here and around the world will lose confidence in our ability to meet our commitments and our obligations,” Geithner said in a letter to congressional leaders.

via Geithner warns U.S. to hit debt ceiling by May 16 | Reuters.

Meanwhile, in Congress:

A Republican budget plan due to be unveiled on Tuesday would cut $5.8 trillion from U.S. spending over the next 10 years, a congressional aide familiar with the proposal said on Monday.

The plan, which would take effect when the next fiscal year starts on Oct. 1, is expected to propose sweeping changes to the Medicare and Medicaid health programs, as well as hard caps on government spending and tax cuts.

via US Republican budget plan would cut $5.8 trln in 10 yrs.

That’s what I call a good start.

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