Several days ago, I posted on Twitter about the NY Times federal budget calculator, which is receiving well-deserved praise around the blogosphere.
For example, economists such as Clear Thinkers favorites David Henderson and Arnold Kling — as well as financial columnist James Pethokoukis — provide their views on what spending cuts to make in balancing the budget within a reasonable period of time without raising taxes.
As John Goodman points out, though, the elephant in the parlor in cutting the budget is how to corral Medicare costs without causing corresponding harm to the elderly. Details, details . . .
Nevertheless, Professor Henderson sums up the importance of the calculator as an educational tool:
Here’s a prediction: if the New York Times keeps this game up on its site, a whole lot of people are going to be more sympathetic to cutting government and more optimistic that it can be done.
One of my objections to Tea Partiers is how uninformed some of them are about the numbers. Now, thanks to the New York Times, they don’t have to be.
Here’s an idea: slash the bloated Pentagon budget.
That way, rich people won’t have to pay a penny more in taxes, and SS and Medicare won’t “need” to
be “reformed”.
60+ year old Tea Partiers are such cretins. They listened as young adults in 1965 when LBJ described the Medicare program: “And through this new law, Mr. President [referring to Harry Truman], every citizen will be able, in his productive years when he is earning, to insure himself against the ravages of illness in his old age.” Somebody got a free lunch but the about to retire paid in advance and now won’t even get the lunch they’ve already paid for. Imagine why they’re in a mood to turn incumbents out in the street. There should be an object lesson for younger people here.
Unfortunately, this is another well intentioned program that not only doesn’t deliver as promised but also creates lasting harm to others.
The elderly expect the government to pay up because they paid in. They were on the front end of a ponzi scheme. In this ponzi scheme though the price of admittance and the payouts have gone up exponentially through the decades. As the elderly paid their money to a faceless government, it’s easy to argue vehemently for what is believed to be their right. If these same individuals were faced with having to determine how much of their childrens and grandchildrens income they will take, their answers would likely be different.
Third party pay is a huge problem. The patient does not assess value to the procedure, nor is there visability to how the cost are truly paid.
Medicare was responsible for the rise in medical costs through the 70s and has had negative impacts on the medical system in the last 30 years as physicians and doctors “react” to a reactive system.
I don’t have a quick fix answer, but getting these services closer to the free market vs government is IMO the long term solution. I don’t want my children taking care if me, directly or through taxes.