Thursday, March 25, 2010
Entitled To Going Broke
The Congressional Budget Office "scores" the health-care bill as costing "only" $940 billion over ten years. Of course, the fear is that estimates on these huge government programs are notoriously off. With an exquisite sense of timing, one day after health care reform becomes the law of the land, official Washington learns that Social Security is going broke faster than previously estimated:|
This year, the system will pay out more in benefits than it receives in payroll taxes, an important threshold it was not expected to cross until at least 2016, according to theCongressional Budget Office.
So, the biggest entitlement of all is starting to run in the red six years before it was supposed to! This should make the continued "selling" of HCR -- from a cost-control perspective -- interesting in the coming months.