The math is simple. If we pay Social Security, Medicare/Medicaid, Unemployment & Other Entitlements, and Net Interest of the existing debt, [and cut defense and discretionary spending by 98% from existing levels, from $1277B to $20B] we can almost eliminate our annual deficit!
Our choices are: (1) cut entitlements seriously, or (2) pass the problem on to our kids when it’s even worse. Personally, I think we need to start moving the Social Security retirement age out toward 70, at least for those under age 55 (50?), just so the problem doesn’t snowball even more two decades from now, but also so we aren’t changing the rules on those close to retirement. I also think we need to tighten up Medicare/Medicaid eligibility and what is covered under those programs. We simply can’t afford a government that plays Santa Clause. Unemployment Insurance needs to be cut back - we can’t afford to pay people to stay home as they look for the perfect job at their old level of pay. It won’t be popular, but our choice is to do the right thing in each of these areas of leave our children with a crippling debt (or both if we don’t act imediately).
Yep, But seems like some folks can barley get moving at 50, then you see the granny at 70 outworking all the young folks around her.