ignoring entitlements-

ignoring entitlements–58.4h.,b58.12-1

There was absolutely nothing about America’s most pressing fiscal issue: runaway spending on Medicare and  Social Security. And even if Trump had mentioned the issue of entitlements in his economic speech, chances are he would have—as he has elsewhere on the campaign  trail—ruled out changes to the programs. More than two-thirds of the federal budget is spent automatically on Medicare, Social  Security, and other entitlement programs, such as Medicaid and unemployment insurance. Some 17 percent of the budget goes to defense, while interest on the federal debt eats up another 6.5 percent. The little that is left for discretionary spending—the 6.5 percent of the budget Congress uses to pay for disaster relief, research, education, and less salutary items such pork—could easily be crowded out.

Absent reforms, mandatory spending on entitlements will swallow 98.3 percent of the budget a decade from now, leaving just 1.7 percent for all discretionary spending—and hat 1.7 percent includes defense.

In 2008, there were 3.2 people in the workforce paying into entitlement programs for every retiree collecting benefits. That figure will drop to 2.2 in le next couple of decades, even with America’s population swelling as a result of largely unchecked immigration.

“Four years later we know this much for sure: The Democrats are glib and unserious about saving the social safety net. Social Security’s long-term funding shortfall has grown from $5.3 trillion to $10.7 trillion on Obama’s  watch.  Obamacare siphoned $716 billion from Medicare, and Medicare premiums are poised (again”) to rise precipitously. And now, facing a funding debacle, Democratic nominee Hillary Clinton wants to increase social security   benefits and expand government-funded health rare.

source-wwekly std, mark hemingway

 

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