Womack: Federal Programs On Road to Insolvency
(By – John Lovett, Times Record)
U.S. Rep. Steve Womack, R-Rogers, said he is willing to risk his political future to make what could be some unpopular decisions that solve a number of serious economic issues that require long-term solutions. Several instrumental government programs that aid the nation’s health and infrastructure institutions are headed down a path of insolvency by the year 2032 with about $800 billion in interest on debt alone by 2025, he told the Fort Smith Regional Chamber of Commerce Friday. “Autopilot” spending for government programs like social security, Medicare and Medicaid exceeds all revenue projections for the early 2030s. And the Highway Trust Fund, which pays for 70 percent of road projects in Arkansas, is in a continual state of short-term patchwork repair. Read more…