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 stock certificate for social security for set forth be grimy in 2040, a category earlier than expected, while the Medicare exit exhaust its investment firms 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 involve three members of the President Bushs Cabinet, painted a heavy perspicacity of the health programs in advance of the looming retirement of 78 one million million million featherbed microphone boomers. The trust funds contain the homogeneous as the governments way of IOUs to ra ise the actual cash to catch the obligations of the nation. Borrowing more money from the public by channelize marketable Treasury securities, raise taxes or cut using up in other programs. Last year, Bush tried to bring in a private investment account for younger workers tho it didnt go anywhere with congress. Democrats thought the program was a private attack to cut future benefits.

Treasury Secretary, John Snow, said the new report depicted a looming fiscal crisis when the baby boom generation playacts into retirement and he urges Congress to move former with this years State of the Union address. B ut Democrats from the congress aerated that ! the judicature was using trustees reports to try and create an air of crisis to affect basis changes to the two benefit programs. Both programs face backing issues sooner at the point that the amount paid push through each year exceed the amount the government collects to fund them. This happened for Medicare in the year 2004. Social Security will walking 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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