January 26, 2011
Every budget expert knows that Social Security is fully funded through the year 2037 with no changes whatsoever. Even if nothing is ever done the program will always pay close to 80 percent of scheduled benefits. It also, under the law, cannot contribute to the deficit since it cannot spend more money than is in the trust fund.
Medicare costs are projected to rise more rapidly, but this is due to rising private sector health care costs, not the inefficiency of Medicare. This means that containing Medicare costs and preventing a soaring deficit involves fixing the health care system, not gutting Social Security and Medicare.
While these simple facts are known by every budget expert, that doesn’t keep the pundits from insisting that President Obama and other politicians support cuts to Social Security and Medicare. Hence we get Ross Douthat whining that no one seems to be listening to him in today’s NYYT.
Comments