During this election season you have heard all the rhetoric about cutting these vital programs. Many people, especially seniors believe they are going to lose their benefits or have them trimmed.
It’s all election rhetoric and very unfortunate.
Look at it this way if no other, of the 60 million Americans who are Social Security and Medicare beneficiaries, around half of them are likely Republicans. How dumb do you think politicians are?
Both these programs have financial problems; big ones. Both require a big inflow of cash to keep going as is and/or changes to future benefits; that’s simply a fact.
Congress has failed to address the problems for many years and why not? Well, if you come up with any ideas, even the most mundane, your ideas are twisted and you get politically crucified.
The losers in all this are not the politicians, but all Americans.
The essence of the problem is demographics (plus health care costs for Medicare) and nothing is going to change that. There are fewer workers trying to support more beneficiaries who have been promised benefits that are not fully funded.
The basic questions regarding fixing both programs are: should all Americans be part of fixing the programs? How do we spread the burden across generations fairly? How do we fairly pay for added benefits once the programs are made solvent and thereafter?
For now, the thing to keep in mind is that regardless of the political party in charge, the issues with Social Security and Medicare remain and they cannot be fixed with rhetoric or solely trying to push the burden onto a small percentage of Americans.