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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Mounting entitlement spending and persistent deficits make our fiscal trajectory increasingly difficult to reverse.
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By constantly spending and generating new debt, Congress effectively forces prices to rise and purchasing power to fall, year after year.
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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.
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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
Social Security is pure welfare, not an individual savings program. Denying that only makes reform more difficult.
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.
โข
Social Security is pure welfare, not an individual savings program. Denying that only makes reform more difficult.
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