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Entitlement Spending: Our Coming Fiscal Tsunami (Hoover Institution Press Publication)

Koitz, David

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ISBN 10: 0817915540 / ISBN 13: 9780817915544
Editorial: Hoover Institution Press, 2012
Usado Condición: Very Good
Librería: Better World Books (Mishawaka, IN, Estados Unidos de America)

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Título: Entitlement Spending: Our Coming Fiscal ...

Editorial: Hoover Institution Press

Año de publicación: 2012

Condición del libro:Very Good

Edición: 1st.

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Sinopsis:

David Koitz clarifies misconceptions and presents the facts on the impending fiscal crisis driven by spending on Medicare, Medicaid, and Social Security. Although these programs are idolized as pillars of the nation's safety net, he shows how they are in fact the largest drivers of our looming fiscal problem. Koitz explains that, if an effective remedy is to emerge, those three programs must contribute heavily to the changes lawmakers consider and offers some policy directions for dealing with them.

From the Inside Flap:

The United States will soon confront a major economic problem, perhaps one unparalleled in the nation's history. Starting today and continuing during the next twenty years, the post–World War II baby-boom generation will nearly double the nation's aged population; the lingering baby trough that followed will slow the growth of the working population. The baby boomers and the major advances in life expectancy affecting subsequent generations will cause the number of  recipients of Medicare, Medicaid, and Social Security to rise, causing the expenditures of those programs, whose creation and inherent promises largely preceded the birth of those who now or will soon seek their benefits, to soar Our looming economic tsunami is simply the mountain of debt those promises portend.

In Entitlement Spending: Our Coming Fiscal Tsunami, David Koitz makes the compelling case that Medicare, Medicaid, and Social Security have the potential to devour our country's productive capacity if not soon constrained. He argues that what's ultimately at issue is risks to our way of life—to our economy, our ability to grow, our standard of living, and our national security—and thus why we must deal with them now. Although Koitz acknowledges that there are many wasteful programs—extravagant earmarks, bridges to nowhere, defective weapons systems, fraud in Medicare and Medicaid, noncompetitive contracting, "pork barrel" politicking, and congressional perks—the big money lies in Medicare, Medicaid, and Social Security benefits. Those big-three entitlements, he shows, are the major drivers of the long-range escalation of government spending.

The author offers various directions to address the fiscal problem, such as raising Medicare's eligibility age, increasing out-of-pocket cost-sharing, raising the age for full Social Security benefits, and reducing all forms of spending, revenue indexing. and cost-of-living adjustments. Although guaranteed to be unpopular, those alternatives may well be the only way to avoid economic disaster. When push comes to shove, the author argues that we will need to tighten our belt; as the wealthiest nation on earth, we have the ability to do so while protecting the poor and disabled. If we impede the future economy with enormous debt or large tax increases, everyone will suffer.

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