Bush, Congress Lack the Courage to Fix Entitlements (John M. Berry)

[swag]

http://quote.bloomberg.com/apps/news?pid=10000039&refer=columnist_berry&sid=aS7oy_2b2vtk

Jan. 17 (Bloomberg) -- The irony was stark.

On Jan. 1, the new Medicare drug program began. It is the most costly addition to federal entitlements in decades and was enacted with full backing by President George W. Bush.

Then on Jan. 6, Bush issued another call for spending restraint to slow the growth of entitlements.

Where are we on the costs of entitlements?

The estimated cost of the drug program is almost three- quarters of a trillion dollars over the next 10 years. (It also contains a provision that prevents the government from negotiating with pharmaceutical companies to lower drug prices.)

And the unfunded liability associated with the Medicare drug program is at least twice as large as that for Social Security, which is about $11 trillion, according to administration estimates.

In his Jan. 6 speech in Chicago, Bush said some people in Washington ``would like me to stop talking about'' the problem on unfunded liabilities in Social Security, Medicare and other entitlement programs.

``I'm not going to,'' he said. ``I believe all our roles in Washington is (sic) to confront problems now, and not pass them on to future presidents and future congresses.''

. . . more

[mom cat]

1. How about we start with finding the last trillion dollars that the

Pentagon is missing?

[hedda_foil]

2. When they say "fix," think of the word in veternary terms.

Can you say "spay and neuter"? I knew you could!

[bemildred]

3. Bush, Congress lack the will to fund entitlements adequately.

(But we have plenty of money for the utter fucking debacle in Iraq.)