Americans See Medicare, Social Security "Crisis" Within 10 Years

[WestVirginiaRebel]

Gallup:

PRINCETON, NJ -- Two out of three Americans (67%) believe Social Security and Medicare costs are already creating a crisis for the federal government (34%) or will do so within 10 years (33%). The vast majority believe the programs will create a crisis at some point, with 7% believing the programs' costs will not create a crisis for the foreseeable future.

These results are based on an April 20-23 USA Today/Gallup poll that asked Americans what they see as the major cause of the deficit and which approach they favor for addressing the problem.

Because Medicare, Medicaid, and Social Security make up a huge portion of the federal budget, it will be difficult to significantly reduce the deficit without addressing their costs. High healthcare inflation and a growing number of senior citizens in the population have helped increase costs. Americans largely seem to recognize that the costs of these programs are going to have a significant impact on federal spending and on the government's ability to address other priorities within the next decade.

Republicans (76%) are significantly more likely than Democrats (54%) to believe the programs' costs are already creating a crisis or will do so within 10 years. Independents' views are more closely aligned with Republicans' on this matter.

Seniors -- the primary current beneficiaries of Social Security and Medicare -- are least likely among age groups to see a near-term crisis from those programs. Fifty-seven percent of seniors believe the programs' costs will create a crisis for the U.S. within 10 years or are already doing so, compared with roughly two-thirds or more of other age groups. The lower level of concern among seniors could reflect that they currently receive benefits under the programs and see them as "working," and thus not in a crisis. It could also reflect the fact that most proposals to change Social Security and Medicare exempt those who are now aged 55 or older, meaning these will likely not affect their own situations.
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I'm betting this "positive outlook" won't last once the real costs of doing nothing kick in...

[Argyle58]

Social Security and Medicare are a problem now, but have only become so because of the actions of Congress, with both parties to blame.

 

Taxes collected for these two programs were supposed to be used exclusively for them, but have been used by Congress to fund feel good social programs that they could not raise the funds for, programs that were put in place because, by backing them, politicians could get themselves re-elected. The Treasury Department and the Fed claim that these "loans" are supported by Treasury Bonds that are backed by "The Full Integrity of the U.S. Government". While these bonds do exist, they are unfunded, and the funding will have to be borrowed, further increasing our national debt.

 

State and local governments present bond issues to the general public to fund such projects, and the voting public gets to decide whether or not they are willing to pay for them in referendum elections. This is an equitable policy that serves all parties involved. But, our congressional leadership has grown too arrogant over the past three decades to let the voters decide, instead, they steal from us in order to create job security and then lie to cover their arses.

 

Were a private sector company to raid the retirement and benefit programs set up for their employees to pay for things they could not otherwiseafford, every person involved in the decision would be prosecuted and sent to prison. The actions of Congress is no less heinous, but they have voted themselves immune from prosecution.