reasons:
#1 Entitlement programs are huge, expensive, and reach into every corner of American life.
Social Security, Medicare, and Medicaid already cost $1.6 trillion per year. Social Security sends checks to 58 million retired Americans as well as widowed spouses and minor children of deceased workers. It costs $809 billion per year. Medicare now covers nearly 51 million people at a cost of $586 billion. Medicaid provides health care for 62 million poorer Americans. It costs $265 billion. And there is the Social Security Disability program that provides aid to 8.8 million people classified with disabilities. Two years after being classified, these recipients can qualify for Medicare regardless of age.
#2 Entitlement costs are growing at an alarming rate.
Many oppose changes in entitlement programs because they believe they are just getting out what they put in. In fact, many of us have had conversations with our own parents and in-laws who simply don’t want to believe that they are taking out more than what they paid in. But it’s true—and when they get back more than they put in, that contributes to the deficit.
#3 We have nothing to fear from carefully crafted, phased-in adjustments to our entitlement programs.
America’s entitlement programs have been adjusted and modernized many times over the years to keep up with changes in the economy and society.For example, automatic cost-of-living increases did not even exist in Social Security until 1972. A gradual increase in the retirement age was enacted in 1983 and is being given 44 years to fully take effect. In 2006, a prescription drug benefit was made available from Medicare. It has come in under budget, features ample consumer choice based on a premium support system, and is very popular with seniors.Strengthening and improving entitlements in the face of compelling financial and demographic realities are reasonable and achievable.
Explanation:
