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Robert Samuelson: Ryan’s budget asks nothing of the elderly -; unfortunately - The Washington Post
Keywords:
Samuelson warns that turning seniors into a protected class making no sacrifices whatsoever, will mean shrinking all other social programs, defense and investments in education and infrastructure. This is the reality of the budget deficits facing the U.S. He cites the Congressional Budget Office projections that even with cutting defense and non defense discretionary spending by a third, the U.S. risks a deficit in 2023 of about 6.75% of the economy or gross domestic product (GDP). To cover this would require $1 trillion in higher taxes, an increase of a third above the 1970-2011 average. He says Democrats are using demagoguery and intimidation on this issue, and ironically even Paul Ryan's proposal reflects a desire not to touch seniors benefits and willingness to pass on the costs to the young to pay for these programs. Social Security and Medicare are a critical part of the American fabric, and no one wants to dismantle them, it is about modernizing them to reflect higher life expectancy and larger wealth accumulated by the elderly compared to previous generations, and to reduce the burden on the young.
Samuelson on the elderly as a protected class in the Social Security and Medicare debates of 2010-2013
03/30/2010
Samuelson says that not asking some sacrifice from seniors and leaving Social Security and Medicare untouched as even the Ryan proposal does, means shrinking other social programs, defense and investments in education and infrastructure. This will be damaging for the U.S. Both parties and expecially the Democrats who accuse the Republicans of running "grandma under the bus," are to blame for this fear of both sides to come to grips with the issues. See the Washington Post editorial on Vice president Biden's comment "I flat guarantee you, no changes to Social Security," as downright disheartening and irresponsible at best and political pandering at worst.
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How keeping seniors as a protected class in current Social Security proposals impacts the young and leads to shrinking investments in defense, social programs, research, education and infrastructure
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This includes the Republican Paul Ryan proposal which also stays away from touching Social Security for today's seniors and passes on the costs to the young. Democrats are using demagoguery and intimidation on this issue. Samuelson cites CBO estimates which show that even with shrinking defense and nondiscretionary spending by a third the U.S. deficit would still be 6.75% of GDP in 2023.
Linked Articles
Robert Samuelson: Ryan’s budget asks nothing of the elderly -; unfortunately - The Washington Post
Washington Post 08/16/2012
Mr. Biden falls flat - The Washington Post
Washington Post 08/16/2012
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