Social Security is a hotly debated topic in American politics. Since its inception, the program has created outcomes not foreseen by its designers. The upcoming retirement wave of Baby Boomers is another one that must be addressed.
While the Administration's budget makes major savings and reform proposals, it utilizes unrealistic assumptions to achieve the balanced budget and avoids addressing the main drivers of our debt – Social Security and Medicare.
While projected impacts of the House passed bill are making news this week, we take a look at what rising health care costs are doing to the federal budget already. We will spend more on federal health care programs this year than the federal government spent in total during its first 170 years in existence. While taking on reform, Congress must not ignore our unsustainable budget.
