Medicare, Social Security: Too Big To Fail? - The American Spectator | USA News and Politics
Medicare, Social Security: Too Big To Fail?

The deteriorating financial condition of Social Security and Medicare — whose trust funds are stuffed with government IOUs, not real assets — should give people pause about growing our welfare state even further. The United States is going broke even without a European-style welfare state. Medicare attempts to control costs by reducing payments to doctors and hospitals, contributing to cost-shifting, but still is in even worse shape than Social Security. But we are still supposed to believe that larger programs loosely based on the ones running out of money will be financially viable and will even cut costs.

The entitlements crisis makes the annual federal budget deficit — revised up to $1.84 trillion, nearly four times the previous record, and above $500 billion for a decade — seem trivial by comparison. But when the federal government finds itself in a hole, no matter how deep, its solution is always to keep digging.

Sign up to receive our latest updates! Register

By submitting this form, you are consenting to receive marketing emails from: The American Spectator, 122 S Royal Street, Alexandria, VA, 22314, You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Be a Free Market Loving Patriot. Subscribe Today!