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 say Monday that the trust stock certificate for social security for set forth be blackened in 2040, a category earlier than expected, while the Medicare result exhaust its breeds 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 imply 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 cross microphone boomers. The trust funds contain the same as the governments way of IOUs to raise the actual c ash to enough the obligations of the nation. Borrowing more money from the public by railway line marketable Treasury securities, raise taxes or cut consumption in other programs. Last year, Bush tried to break a private investment account for younger workers scarcely it didnt go anywhere with congress. Democrats thought the program was a unknown attack to cut future benefits. Treasury Secretary, John Snow, said the new report depicted a looming fiscal crisis when the baby boom generation becomes into retirement and he urges Congress to move former with this years State of the Union address. But Democrats from the congress supercharged that the judicature was using trustees reports to try and create an air of crisis to name basis changes to the two benefit programs. Both programs face pay issues sooner at the point that the amount paid come on each year exceed the amount the government collects to fund them. This happened for Medicare in the year 2004. Socia l Security will tump over 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

If you want to get a full essay, visit our page: write my paper