January 19, 2007
Editor, The News Journal
In a recent speech, David Walker, Comptroller General of the United States, said, “We must begin to make some tough choices. Things may seem fine at the moment, but when we look into the future, ….. the outlook isn’t pretty. Unfortunately, in such areas, as time passes, it’s going to get worse, not better, unless we make tough choices and change course.” What he’s talking about is the bleak outlook for Medicare, Medicaid, and Social Security. He offers the dire forecast that “America is poised to enter a prolonged period of escalating deficits and rapidly mounting debt burdens.” What’s leading us to this condition is continuing uncontrolled spending, unfavorable balance of trade, increasing personal debt, rapidly rising health care costs, huge government grants, and on the “receiving side,” the large number of baby boomers who will begin to retire this year and will soon be getting Social Security and Medicare or Medicaid.
Many report that Social Security is not in trouble and that we don’t have to worry. The same is said for Medicare and Medicaid. Wrong! The unfunded burden for these commitments is growing at the rate of $2 to $3 trillion- yes trillion- per year. We need national leaders who have the courage to speak the truth. It will take a bi-partisan effort by America’s leaders to make the tough choices that are in the long-term interests of our nation and its citizens. President Bush tried to get started on solving the SS problem, but he got little or no cooperation from Congress.
Unless corrective measures are taken, and taken soon, we will burden our children and grandchildren with either very high taxes or reduced benefits, thus reducing their quality of life. Do we really want to pass this burden on? I call on all of our national elected officials to recognize the inevitable and to begin to take action NOW. We’re at the Crossroads, let’s hope that they take the correct road to the future.
R. Jerry Martin