Reform entitlements

I paid into Social Security and Medicare for nearly 50 years, so I understand fear of changes – even though reforms wouldn’t affect current or near-term retirees. However, I believe the government actuaries who say that, without reform, Social Security can pay only two-thirds of its benefits after 2037. Medicare funding will run out completely in the next decade, and even sooner when Obamacare cuts a half-trillion from Medicare funding.

The math is compelling. If I live a normal 78 years, I will draw two to three times more from those programs than I and my employers contributed, thus generating unfunded obligations in excess of $50 trillion over the next few decades.

Even with aggressive cost controls and taxes on the rich at 100 percent, we’ll still be trillions in the hole, according to government experts. Those who believe minor tinkering will save the programs are kidding themselves and assuring they won’t be available for our kids and grandkids.

Realistic reform of entitlements, including a means test for wealthier recipients, is essential if we are to keep these programs for future generations and avoid economic disaster. If we resist changes, or delay them too long, we will lose everything.

Mike Sullivan

Post Falls