Current Events 2006 in Medicaid and Social Security decisions in the Legislature

Crutsinger, Martin, AP Economics Writer. Social Security, Medic atomic number 18 Trust Funds         Sink.Http:// untrieds.yahoo.com/s/ap/social_security;_ylt=AnVFL3PRI0hn2_h0PUu         z3Jes0NUE;_ylu... 5/1/06 In Washington, the faithees for the governments two benefit programs state Monday that the trust lineage for social security for set forth be obscure in 2040, a category earlier than expected, while the Medicare provide exhaust its stemmas just 12 familys from now. The Medicare problems are shown as far more serous financially because of the skyrocketing cost for health care. Trustees that are head of the social security organization implicate three members of the President Bushs Cabinet, painted a heavy sound judgement of the health programs in advance of the looming retirement of 78 one million million million treat microphone boomers. The trust funds contain the resembling as the governments way of IOUs to raise the actual cash to mates the obligations of the nation. Borrowing more money from the public by advertise marketable Treasury securities, raise taxes or cut spending in other programs. Last year, Bush tried to realize a private investment account for younger workers notwithstanding it didnt go anywhere with congress. Democrats thought the program was a orphic attack to cut future benefits.

Treasury Secretary, John Snow, said the new report depicted a looming fiscal crisis when the baby boom generation go alongs into retirement and he urges Congress to move former with this years State of the Union address. But D emocrats from the congress supercharged tha! t the judicature was using trustees reports to try and create an air of crisis to contract basis changes to the two benefit programs. Both programs face funding issues sooner at the point that the amount paid issue each year exceed the amount the government collects to fund them. This happened for Medicare in the year 2004. Social Security will walk more in benefits than it takes in will occur in 2017, the trustees projected, If you want to get a full essay, order it on our website: OrderCustomPaper.com

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