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Reform or go broke
NY Post ^ | April 5, 2011 | Tom Coburn

Posted on 04/06/2011 7:59:56 AM PDT by Scanian

House Budget Committee Chairman Paul Ryan said Congress needs to "move the debate from billions in spending cuts to trillions" when he unveiled his budget this week. He's right. The American people clearly support reducing spending. Our next task is to convince them why sweeping reforms and larger savings are needed.

Key elements of Ryan's plan would essentially turn Medicaid into a state-based block-grant program and apply a premium-support model to Medicare (for those now under 55). While there is plenty of room for debate on the specifics, what should be beyond debate is the need for drastic change.

The American people want to hear the truth: Our health-entitlement programs -- Medicare and Medicaid -- are hemorrhaging taxpayer dollars, and threatening our nation's future. According to the Congressional Budget Office, "the single greatest threat to budget stability is the growth of federal spending on health care."

The Government Accountability Office has estimated the federal 75-year fiscal gap -- the difference between anticipated tax receipts and government spending -- is a staggering $76.4 trillion, or more than five times our current national debt. Entitlement spending alone accounts for more than 80 percent of that debt.

Broad health-entitlement reform is a necessity, not a choice. As Federal Reserve Chairman Ben Bernanke told Congress earlier this year, at some point the rest of the world will simply stop loaning us money if our debt continues to skyrocket. When that happens, our safety net -- and our economy -- could collapse. The time to make these choices is now.

(Excerpt) Read more at nypost.com ...


TOPICS: Business/Economy; Government; News/Current Events; Politics/Elections
KEYWORDS: gao; medicaid; medicare; paulryan

1 posted on 04/06/2011 7:59:59 AM PDT by Scanian
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To: Scanian

Move the debate from the billions to trillions?

Eyes likes your thinkin’ Chairman Ryan!


2 posted on 04/06/2011 8:03:20 AM PDT by MichaelCorleone (Sarah Palin is America's Margaret Thatcher)
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To: MichaelCorleone

The only way to do that is to touch the golden goose (the defense budget). I don’t see that happening anytime soon.

Does anyone know how much of the defense budget is spent in Korea, Japan, and Germany.

It would be better to deploy those 27000-37000 us troops from Korea to the southern border and the Navy from Japan to the Gulf and the Coast of Florida and California.


3 posted on 04/06/2011 8:10:35 AM PDT by jy1297
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