OK, if i’m dooming and glooming, what is your solution for fixing our structural budget deficits and national debt?
option 1:cutting social security and medicare and raising taxes
Option 2: print more money.
As bad as option 1 is and as mad as i am that boomer foolishness made it necessary, it’s hell of a lot better than option 2.
I don’t know an answer at this point in time that would be politically viable.
Given the current state of the market, one could privatize, social security, medicare and medicaid by allowing people under a certain age to invest most of their contributions in private investment accounts and means test the benifits for people older than that age. Unfortunately, most people are totally incapable of putting a dollar in their own pocket without it burning a hole in their pocket and older people would never accept a reduction in their “benefits”.
My only other suggestion would be to cut the federal budget in half and eliminate all unnecessary programs. So much of the Federal Budget is wasted on unnecessary and unconstitutional programs.