Emily Goff and Kathryn Nix, blog.heritage.org, 7/18/2011
AARP’s latest video opposing spending reductions in Social Security or Medicare once again pushes the flawed argument that cutting federal budget waste and loopholes would effectively address America’s unsustainable fiscal problems. A senior featured in the video asks, “With billions in waste and loopholes, how could they look at us?”
Yes, there is substantial government waste that Congress can eliminate, but that shouldn’t be a substitute for real entitlement reform. Spending on Medicare, Medicaid, and Social Security—the three main entitlement programs—represents more than half of the entire federal budget today and will consume all of tax revenues by 2049.
It is this spending that drives the debt and deficits, not government waste or tax loopholes.
- Why $16 Trillion Only Hints at the True US Debt
- Nearly Half of All Americans Don’t Pay Income Taxes Despite Enormous Government Debt
- Cut a Penny from the Budget
- 50 Dead-Simple Ways For The US To Cut Its Budget
- The Source of High Inflation: Government Spending
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