Yet liberals want to spend more?

[Bonestorm]

The two political parties actually have agreed in the last two years to some significant steps to reduce deficits down the road.

One big question is whether the budget points a way toward restraining the largest long-term drivers of the deficit, which are government entitlement programs, particularly for health care.

The White House says its budget blueprint represents a good start down that path by offering proposals to curb the growth of Social Security, Medicare and other federal benefits programs.

Obama proposed curbing the growth of Social Security benefits over time by switching to a slower-growing gauge of inflation.

Economists forecast that the country's fiscal problems then would begin to really snowball within about 10 years, driven largely by the baby boom generation drawing Social Security and Medicare benefits in rising numbers, as well as by climbing interest rates.

Roughly 46 million Americans received Social Security retirement benefits in 2012, a figure forecast to grow 40% by 2023, with a similar increase for Medicare.

Given that pressure, the Medicare fund that pays hospital bills is expected to burn through its reserves by 2024.

The Social Security system is in better shape, but its growing obligations will pressure the government to repay money it borrowed from the program to cover other costs.






http://online.wsj.com/article/SB10001424127887324240804578414570933697386.html

Lumping Social Security in with Medicare/Medicaid is dishonest. Social Security is not a problem. At all. It barely registers as a contributing factor to increased spending down the road. Medicare and Medicaid will see increases but only because health care is expensive and increasing. It's a more general helathcare problem.

 

[zappasguitar]

The two political parties actually have agreed in the last two years to some significant steps to reduce deficits down the road.

One big question is whether the budget points a way toward restraining the largest long-term drivers of the deficit, which are government entitlement programs, particularly for health care.

The White House says its budget blueprint represents a good start down that path by offering proposals to curb the growth of Social Security, Medicare and other federal benefits programs.

Obama proposed curbing the growth of Social Security benefits over time by switching to a slower-growing gauge of inflation.

Economists forecast that the country's fiscal problems then would begin to really snowball within about 10 years, driven largely by the baby boom generation drawing Social Security and Medicare benefits in rising numbers, as well as by climbing interest rates.

Roughly 46 million Americans received Social Security retirement benefits in 2012, a figure forecast to grow 40% by 2023, with a similar increase for Medicare.

Given that pressure, the Medicare fund that pays hospital bills is expected to burn through its reserves by 2024.

The Social Security system is in better shape, but its growing obligations will pressure the government to repay money it borrowed from the program to cover other costs.






http://online.wsj.com/article/SB10001424127887324240804578414570933697386.html

Giving up on pretending SS is an "entitlement" have you?

 

[Big Money]

The SS Trustees have this to say:

Projected long-range costs for both Medicare and Social Security are not sustainable with currently scheduled financing...


http://www.ssa.gov/oact/TRSUM/index.html