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The Water Cooler
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Obstacle to Deficit Cutting: A Nation on Entitlements
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<blockquote data-quote="jeffsoward" data-source="post: 1286470" data-attributes="member: 7228"><p>Understandably, there is a disparity of what a worker paid in 30 years ago to the cost of living now and in the future. This is a major problem with Social Security and Medicare.</p><p>When it was formed, and subsequently reworked, the organizers were short-sighted and created a definitive ending (75years) for their models. Not only was the planning horizon too short, but the Greenspan commission used economic and demographic assumptions that were far too optimistic. </p><p>They screwed up, every time. The Greenspan Commission was supposed to solve the problem permanently, but they actually made it worse.</p><p>This is why SS and medicare are included in the "entitlement." Because more is going out than coming in.</p><p>I agree that it's not an entitlement, but my grandparents very small monthly SS check would be far below what it is if they were paid only what they paid in. This is the disparity.</p></blockquote><p></p>
[QUOTE="jeffsoward, post: 1286470, member: 7228"] Understandably, there is a disparity of what a worker paid in 30 years ago to the cost of living now and in the future. This is a major problem with Social Security and Medicare. When it was formed, and subsequently reworked, the organizers were short-sighted and created a definitive ending (75years) for their models. Not only was the planning horizon too short, but the Greenspan commission used economic and demographic assumptions that were far too optimistic. They screwed up, every time. The Greenspan Commission was supposed to solve the problem permanently, but they actually made it worse. This is why SS and medicare are included in the "entitlement." Because more is going out than coming in. I agree that it's not an entitlement, but my grandparents very small monthly SS check would be far below what it is if they were paid only what they paid in. This is the disparity. [/QUOTE]
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Obstacle to Deficit Cutting: A Nation on Entitlements
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