It was on Nightly Business Report - the episode for today... in an editorial, I believe, a smartly dressed young woman was telling us that Congress needs to quit 'pandering' to seniors, as "a majority of the federal budget is spent on seniors already."
She then cut to a graphic showing the familiar cards of Social Security and Medicare, indicating once again how the largess of federal spending is for seniors and 'shared sacrifice' should include seniors...
You folks out there in T.V. Land do realize that Social Security is ENTIRELY funded by a DEDICATED TAX, don't you?
This program is DESIGNED to be used by seniors because they pre-paid for it just like folks of every age are doing right now every time they cash a pay-check.
Social Security has nothing to do with the Federal Budget, other than being a piggy-bank full of I.O.U's, similar to a vault in Beijing.
Medicare gets some of its funding from a tax dedicated to the future of the tax-payers paying the tax, but it is a drain on the federal budget because the insurance lobby successfully hamstrung the program by under-funding it and making it illegal for Medicare to be sold as basic insurance to younger workers. They didn't want the competition, but they were all in favor of a dumping ground for customers who were getting a little older and more likely to start filing claims.
She then cut to a graphic showing the familiar cards of Social Security and Medicare, indicating once again how the largess of federal spending is for seniors and 'shared sacrifice' should include seniors...
You folks out there in T.V. Land do realize that Social Security is ENTIRELY funded by a DEDICATED TAX, don't you?This program is DESIGNED to be used by seniors because they pre-paid for it just like folks of every age are doing right now every time they cash a pay-check.
Social Security has nothing to do with the Federal Budget, other than being a piggy-bank full of I.O.U's, similar to a vault in Beijing.
Medicare gets some of its funding from a tax dedicated to the future of the tax-payers paying the tax, but it is a drain on the federal budget because the insurance lobby successfully hamstrung the program by under-funding it and making it illegal for Medicare to be sold as basic insurance to younger workers. They didn't want the competition, but they were all in favor of a dumping ground for customers who were getting a little older and more likely to start filing claims.
