Robert Samuelson’s back at it:
“Today’s young workers and children are about to be engulfed by a massive income transfer from young to old….”
What’s he talking about? The federal budget and social insurance programs, of course!
“Social Security, Medicare and Medicaid — three programs that go overwhelmingly to older Americans — already represent more than 40 percent of federal spending. A new report from the Congressional Budget Office projects that these programs could easily grow to about 70 percent of the budget by 2030. Without implausibly large deficits, the only way to preserve most other government programs would be huge tax increases …”
And so forth and so on.
By my count this is approximately the 124th time Samuelson has written this column. I used to think he actually read
the CBO reports he quotes as evidence, but clearly he hasn’t read the recent ones. They have concluded
that the federal budgetary problems are not due to demographics
(Samuelson’s “save the children” meme); they are due to health care costs rising faster than economic growth.
The problem faced by the federal government is the same problem faced by America in general: health care costs that are uniquely high and rising faster than the average person’s income. I could go on about the US healthcare costs and demographics; but the CBO report does all of that. The point is Samuelson ignores the evidence and writes a column that has no reference to reality because…I don’t know…it makes him feel good to launch these jeremiads against the greedy baby boomers. If he really wanted to use his pundit position for a good purpose he would encourage the adoption of a healthcare system that doesn’t suck the economic life out of the country.
Meanwhile, another opinion maker, Maureen Dowd takes her Snarky Schtick to new depths of depravity in a column entitled “Can Hillary Cry Her Way to the White House”? I’m no Hillary backer, but don’t people, even politicians, deserve a little respect? Doesn’t our political process deserves a little respect?
I don’t now what we can do about Samuelson and Dowd other than ignore them. Well, it might help to sign this protest petition against Dowd
; I don’t know.