January 24, 2007
Editor, The News Journal
Congress has failed to prepare for the retirement of the baby boomers. It has not reformed Social Security or Medicare. On the contrary, it added a huge and expensive prescription drug benefit.
It should have paid off the national debt. Instead, it has increased the debt so that the United States depends on $2 billion in investment from foreigners each and every day.
We’re in a deep hole, and the baby boomers haven’t yet begun to retire in vast numbers. Congress must drastically change its ways or future generations will be faced with ruinous taxation to pay for all this.
“Downsizing the Federal Government,” by Chris Edwards, points out that federal grants will cost over $480 billion this fiscal year. If the things these grants go for are worth doing, then let local and state governments or private donations fund them. This is income redistribution on a grand scale.
Edgar W. Fasig, Jr.