Romina Boccia is director of budget and entitlement policy at the Cato Institute, where she specializes in federal spending, budget process, economic implications of rising debt, and Social Security and Medicare reform. Sheโs the principal author behind the Debt Dispatch, the no.1 fiscal newsletter read by members of Congress.
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A process designed to overcome political obstacles to deficit reduction is now helping Congress avoid the reforms that matter most.
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Social Securityโs financing problems stem not only from an aging population but also from benefit formulas that grow more generous with each generation.
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A Congress that routinely misses budget deadlines and adds to an unsustainable debt burden should not expect automatic raises with no accountability.
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Mounting entitlement spending and persistent deficits make our fiscal trajectory increasingly difficult to reverse.
โข
By constantly spending and generating new debt, Congress effectively forces prices to rise and purchasing power to fall, year after year.
โข
Is targeting three percent of GDP a turning point, or another empty promise?
โข
Fiscal discipline is politically costly, but inaction will be disastrous. How can we restore sanity to federal budgeting?
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Years of structural deficits have eroded the fiscal capacity needed to confront geopolitical threats. Overspending threatens our security.
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Within a decade,โฏevery dollarโฏcollected in revenue will be spent on health care, Social Security, and interest on existing debt.
โข
The program was meant to prevent old-age poverty. To achieve that, the fortunate will have to give up what (they were told) was theirs to keep.
โข
A process designed to overcome political obstacles to deficit reduction is now helping Congress avoid the reforms that matter most.
โข
Social Securityโs financing problems stem not only from an aging population but also from benefit formulas that grow more generous with each generation.
โข
A Congress that routinely misses budget deadlines and adds to an unsustainable debt burden should not expect automatic raises with no accountability.
โข
Mounting entitlement spending and persistent deficits make our fiscal trajectory increasingly difficult to reverse.
โข
By constantly spending and generating new debt, Congress effectively forces prices to rise and purchasing power to fall, year after year.
โข
Is targeting three percent of GDP a turning point, or another empty promise?
โข
Fiscal discipline is politically costly, but inaction will be disastrous. How can we restore sanity to federal budgeting?
โข
Years of structural deficits have eroded the fiscal capacity needed to confront geopolitical threats. Overspending threatens our security.
โข
Within a decade,โฏevery dollarโฏcollected in revenue will be spent on health care, Social Security, and interest on existing debt.
โข
The program was meant to prevent old-age poverty. To achieve that, the fortunate will have to give up what (they were told) was theirs to keep.
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