Move Along, Nothing To See Here

by Pejman Yousefzadeh on May 13, 2011

I am sure that this is not a big deal at all:

The financial outlook for Medicare deteriorated in the last year because of the sluggish economic recovery, the program’s trustees reported on Friday, with the program’s hospital insurance trust now on a path to being exhausted in 2024, five years earlier than the trustees projected last year.

I’ll let you read the rest to get a sense of the political spin offered by each side, but it’s interesting that we have programs like Medicare and Social Security, whose solvency depends in large part on how well the economy is doing, while at the same time denying people the right to have individual retirement accounts that would otherwise be diverted into Social Security . . . because opponents are concerned about tying retirement accounts to how well the economy is doing.

In any event, can we finally admit that we need entitlement reform?

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