Entitlements: Social Security, Medicare Medicaid
Alison Fraser of The Heritage Foundation discusses how mandatory spending on Social Security, Medicare and Medicaid will increase significantly as baby boomers retire and health care costs rise.
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If Social Security is reduced, after we PAID into it for decades, how can we ever trust the US government again? Why buy US bonds if you may not get repaid? Why join the military if the pension and health benefits promised may be cut? Why be a cop or firefighter if your promised pension is cut? Cutting promised benefits is a sure-fire way to bring down the US government and cause a collapse of the banks. People will pull money out and put it under a mattress rather than trust the banks. You will never see money pulled out faster from IRAs and 401(k)s if cuts occur. I think our representatives and senators better think twice about any cuts. { It is a moral issue: a promise is a promise. If not, trust is broken.} BTW, I am not talking about welfare or payments to those who have not earned them. I am talking about Social Security and Medicare.)
There would be no need for the federal state or local governments to spend any money if they left our money the fuck alone. But no, you arrogant politicians who think you are kings and queens of all the land can call a duck a pine tree and have it be so. Thank god I don't have long to put up with this crap. America a free country? Only thing free are your thoughts and only then if you don't let anyone know you had one because you may end up like Vince Foster.
@cpmondello :
You are right. We are going to have twice as many seniors and costs are going to stay the same. We should just do nothing. Oh, I'm sorry, we should add 16 to 32 million more people to this entitlement program.
Yeah, that's how we cut costs.
Where did it go?
Social Security fund was raided by congress long ago and now all taxes from FICA,SS,and Medicade gogoes directly into congress' checkbook
It's why they weren't too keen on the last presidents Idea to make SS like a IRA..it would take the money away from them and out of their control
Moneywsie $!1 is worth $1 with government no matter how much of it is printed, is worth $1 in US but is only 1/2 cent against the gold standard and dropping against other currency
Every American paid into these taxes for years. Where did all the money go? Hmmmm?