Is Even Discussing Fiscal Sanity a “no no?” - GoBankingRates
Is the partisan divide in Congress so great that even entertaining ideas to deal with the ever burgeoning national debt is an unacceptable concept? Or is discussing reform of programs which will soon become insolvent (Social Security and Medicare) completely “off the table” in Congress? Well, judging by the reaction of some to the House Budget Committee’s new bill establishing a bipartisan commission to study restoring the nation to fiscal sanity (as well as saving Social Security and Medicare), the answer is, astonishingly, yes. Nevertheless, the House has, over objections by some, moved forward and set up a bipartisan commission tasked with developing ideas to improve the government’s general fiscal condition, and also improve “the solvency of federal trust funds, including those that finance Social Security and Medicare.”
The national debit is a staggering $34 Trillion, and Social Security’s Trust Funds are projected to run dry in less than a decade . The former begs for general fiscal improvement, and the latter pleads for reform to avoid an across-the-board cut in everyone’s Social Security benefit in about 2033 – an event that would cast millions of Americans into poverty. Time is running out – Congress has a responsibility to restore fiscal sanity, and the new bipartisan Fiscal Commission seems to be a step in the right direction. Read this GoBankingRates article by Vance Cariaga at nasdaq.com for more information.