November 22, 2014

Pandering to Geezers, Bipartisan-Style

October 14, 2010
Chicago Tribune

Excerpt

Kirk neglects to mention that even some Republicans favor moderating the growth of (aka "cutting") Medicare spending. Republican Rep. Paul Ryan of Wisconsin, one of the party's young visionaries, proposes to save money by replacing the existing entitlement with vouchers, so retirees can buy private coverage.

That may or may not be the optimal remedy, but there is no escaping the need to contain entitlement costs. The anti-deficit Concord Coalition points out that by 2042, absent reform, Social Security will take 50 percent more out of the economy than it does today, forcing a big increase in payroll taxes. The outlook for Medicare is even worse. Something has to give.