Urgent need for sacrifices to address federal deficit spending and entitlement costs

From Investing.com: 2025-05-21 04:37:00

The news highlights the urgent need for sacrifices to be made to address the federal deficit spending and entitlement spending on retirees. The current system is unsustainable, with Social Security, Medicare, and Medicaid comprising 44% of federal spending. The majority of net worth is held by Boomers, who need to accept the need for sacrifices to prevent the ship from sinking. Triage is necessary, with solutions including shifting the tax burden from labor to capital, means-testing benefits, and limiting open-ended entitlement programs. The math doesn’t work, and tough choices must be made to avoid disaster.



Read more at Investing.com: Boomers Hold the Wealth While the Young Pay for Rising Entitlement Costs