![]() There’s an important reason to address these issues now. Projections also show that Medicare will be out of money by 2026. Given how untenable that would be politically, there would likely be a payroll tax increase. Absent a congressional fix, benefits will be automatically reduced. The Social Security Administration projects that its reserve fund will run dry in 2036. That’s not realistic if we expect future younger workers to ever see a portion of their current contributions. Trump said he wouldn’t reform Social Security or Medicare to make them more viable in the long term. Even before he officially launched his presidential campaign, Mr. Washington doesn’t have a revenue problem, it suffers from a debilitating spending addiction.Ĭonsider entitlement programs such as Social Security and Medicare. ![]() But federal revenues have long been on a one-way trajectory - straight up. The government is running an annual deficit of more than $1 trillion, with no end in sight.ĭemocrats like to blame the Trump tax reform passed two years ago. Debt reduction, however, hasn’t been among them. President Donald Trump has had several high-profile successes during his first term. This is the most important topic almost no politician wants to talk about. ![]() That now approaches $69,000 - for every man, woman and child. Because that number is unimaginably large, it also showed the share of debt each American owes. It features a running total of the debt - around $22.6 trillion and rising by the second. ![]() Peterson Foundation erected a national debt clock on a Strip billboard. (Bizuayehu Tesfaye/Las Vegas Review-Journal) only “What happens in Vegas, stays in Vegas,” applied to the national debt. A pedestrian walks past a billboard depicting rising national debt on Las Vegas Boulevard directly across from the Aria/City Center on Thursday Sept. ![]()
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