A general rule of life is that when you avoid dealing with a problem, it only gets worse.
Take the recent Wall Street Journal article "No Basis in Mathematical Reality" by James Freeman. It diagnoses one the most dire issues facing our nation - Medicare and Social Security's underfunded future.
In the article, Freeman focuses on cold, hard facts from a recent Congressional Budget Office (CBO) Report, citing what Brian Riedl of the Manhattan Institute wrote in the New York Times: “Over the next three decades, the Social Security system is scheduled to pay $21 trillion greater than its trust funds will collect…The Medicare system is projected to run a $48 trillion shortfall. These deficits are projected to, in turn, to produce $47 trillion in interest payments to the national debt.”
Of course, Congress is considering tax increases, but those new revenues would likely only cover 66 percent of the projected shortfall in funds. Clearly, some critical thinking is needed here.
Fortunately, my forthcoming book, The Journey’s End, offers pragmatic reforms that could help make Medicare more affordable. Speaking of affordable, copies cost less than one trillionth of these projected shortfalls. But make sure to pre-order now...after all, when you avoid dealing with a problem, it only gets worse.
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