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Now I’ve cut $329 billion. It’s still not enough.
The military is about a fifth of the budget. I want to support our troops, but we could do that and save money if the administration would shrink the military’s mission to what it is supposed to be: protecting us from external threats. We cannot put America on a road to solvency without cutting military spending, too.
Of course, what will really bankrupt America are entitlements, especially Medicare. That’s the big one.
Why even call it an entitlement? Are we entitled to the money? People think we are, but the money is taken from the taxpayers—by force. The program is totally unsustainable. We now live so long that most of us get back about three times what we paid into these programs.
So we have to raise the retirement age, maybe index it to life spans, and turn Medicare into an insurance plan that sustains itself. That will mean that if I want the latest in high-end medicine, I have to pay for it myself.
We’re on the way to becoming Greece—while our “leaders” stand and watch. A catastrophe is happening before our eyes, but the politicians won’t act to avert it. How did they ever end up with enough power to sink our society?
John Stossel (read his Reason archive) is the host of Stossel, which airs Thursdays on the FOX Business Network at 9 pm ET and is rebroadcast on Saturdays and Sundays at 9pm & midnight ET. Go here for more info.