Washington (CNN) - Social Security and Medicare will run short of funds earlier than expected, according a report released Friday by the programs' trustees.
What's the significance? Your answer, at least in the halls of Congress, apparently depends on your party affiliation.
"The health care changes passed by Democrats last year strengthened Medicare and extended its solvency without reducing benefits to our seniors,"
But Medicare is now funded for 5 years less? Ummm I'm confused.
As I said in an earlier post.
I am not rich, My wife and I both work and make pretty good money but we are far from rich. I would personally love to not pay into social securiity now, and invest on my own. I don't feel like I should have to support everyone else, and everyone else should have to support me when I'm older if I need it or not. If social security is such a good idea, why is it not voluntary? Same can be said of medicare.
Bottom line, the Obama Administration will not act. They could care less. They will only do whatever is politically advantageous between now and November 2012. They have a lot of liberal supporters to 'take care of' between now and then so don't expect spending cuts, only raised taxes. Unfortunately, the future of America is in their hands for another year and a half. Thank goodness ( and American voters ) that at least we have a Republican controlled House now as a check on their total destruction of the economy and the treasury.
here is how you can add time, lower SSI to 4.5% (where it currently is now as a cut was 6.2%) for all earners regardless of income and remove the $106,800 limit or cap it at $600,000.
"For decades" politicians have chosen to "kick the can down the road" when it comes to the solvency of Medicare and other popular entitlements”. John Boehner, R-Ohio
John Boehner, Mitch McConnell,. Orrin Hatch all are freshmen so they are not responsible for what is happening now give me break
Sen. Orrin Hatch give more money to Oil companies later (Next democrat in the white house ) we will talk about deficits
The GOP responds only one way...Throw Grandma from the Medicare...And feed the Rich more tax cuts...
Tim says we should not wait to shore up SS...With what Tim! We already borrow 190 Billion a month.. Nothing surprises me out of Washington anymore...What is their aproval rating now..has to be in the REd like our country yes?
Social Security and Medicare are NOT entitlements for those of us that actually PAID into it! If there's any reform, it should be for those folks that never paid into it, except for widows and people that were born before FDR was President!
Four and the Door,
The Obama Administration cannot raise taxes without the House. In fact, the only thing Obama can do is to cut taxes, with Republicans in control of the House. Republicans don't care what their tax cuts are doing to the budget, or that their tax cuts move the government CLOSER to the debt ceiling. Remember the 850 billion tax cuts right after the 2010 election? That is going to cost the Treasury 400 billion in 2011 alone. Where do you think that 400 billion go? It went into the deficit. Do Republicans care about the deficit? No.
Commonsense, that's all we need.....but sadly, it's as rare as hens' teeth these days.