"Yes, the US has some very real long term issues with Social Security and Medicare.
Social Security is being strangled by the refusal to raise the income limit on the Social Security withholding tax in response to the gradual creep of inflation. If this limit was raised periodically the Social Security 'problem' would be resolved.
One could consider 'means-testing,' not providing benefits to the better off, but that strikes to the heart of the program, which is not an 'entitlement' but as an insurance trust, distributed uniformly to all participants based in part on their contributions over the years.
Medicare and in particular the drug portions of the program added by the Bush II administration are driving costs much higher. And this is more of a problem because of the structural cost problems in US healthcare system. Big Pharma in the US is a powerful lobbying force, and Americans pay MUCH higher costs per benefit for their health care services. This is inhibiting the steps that are needed to restructure the US healthcare system.
But Social Security and Medicare, without the drug program, have not substantially changed since the 1990's, when the US was running a budget surplus, and then Fed Chairman Greenspan was reassuring the public that the Fed had a plan to deal with the lack of debt.
So what changed?
The repeal of Glass-Steagall and the growth of unregulated financial products, the co-opting of the regulatory agencies, the growth of corporate influence in Washington, and two unfunded and very costly wars of long duration, based largely on lies and distortions based on a terror attack by a small group of people, coupled with tax cuts for the wealthy..."
at http://jessescrossroadscafe.blogspot.com/2011/08/its-unfunded-wars-and-financial-fraud.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+JessesCafeAmericain+%28Jesse%27s+Caf%C3%A9+Am%C3%A9ricain%29
Social Security is being strangled by the refusal to raise the income limit on the Social Security withholding tax in response to the gradual creep of inflation. If this limit was raised periodically the Social Security 'problem' would be resolved.
One could consider 'means-testing,' not providing benefits to the better off, but that strikes to the heart of the program, which is not an 'entitlement' but as an insurance trust, distributed uniformly to all participants based in part on their contributions over the years.
Medicare and in particular the drug portions of the program added by the Bush II administration are driving costs much higher. And this is more of a problem because of the structural cost problems in US healthcare system. Big Pharma in the US is a powerful lobbying force, and Americans pay MUCH higher costs per benefit for their health care services. This is inhibiting the steps that are needed to restructure the US healthcare system.
But Social Security and Medicare, without the drug program, have not substantially changed since the 1990's, when the US was running a budget surplus, and then Fed Chairman Greenspan was reassuring the public that the Fed had a plan to deal with the lack of debt.
So what changed?
The repeal of Glass-Steagall and the growth of unregulated financial products, the co-opting of the regulatory agencies, the growth of corporate influence in Washington, and two unfunded and very costly wars of long duration, based largely on lies and distortions based on a terror attack by a small group of people, coupled with tax cuts for the wealthy..."
at http://jessescrossroadscafe.blogspot.com/2011/08/its-unfunded-wars-and-financial-fraud.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+JessesCafeAmericain+%28Jesse%27s+Caf%C3%A9+Am%C3%A9ricain%29
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