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Here are three competing political and economic agendas. (1) Liberal, (2) Radical Socialist and (3) Conservative:
LIBERAL AGENDA:
1. The economy: The problem:
The federal government is on a trajectory towards bankruptcy. Sooner or later, Social Security and Medicare will become insolvent.
Each year, the share of the federal budget that is spent on financing the debt grows. Obama managed to reduce the government’s annual deficit to around $400 billion, but the new Republican tax cut for the rich is predicted to cause this to rise to $1 trillion. In addition, interest rates have been at an unprecedented low for years, and they are bound to rise soon. Gradually, financing the debt will crowd out other expenditures - health and human services, unemployment, infrastructure, housing and transportation, science and education, food and agriculture, energy and the environment, veterans and even the military.
The Trump administration is already proposing to cut food stamps. Stingy as our safety net and assistance to the needy are compared to other advanced social democracies, they will be reduced even further, as our government goes broke.
The solution:
A. Full retirement age for social security should be raised. Life expectancy has risen, so this makes sense. Raising the age at which dozens of millions of Americans begin to collect benefits will save the government BILLIONS. Read more...