Future Health Care Reform Imperative for Young Americans

Introduction

The issue of Medicare has engaged the United States for over a year. To understand this question, we must place it in its historical context and institutional framework, including exploring the dysfunctional American health care system that justifies the idea of ??major reform. Then it comes to addressing the political events of the 2008 presidential campaign and, more recently, the first year of the Obama presidency (Cunningham, 1).

By far, the most important issue affecting the future prosperity of America is entitlement reform. The Big Three entitlement programs: Social Security, Medicare, and Medicaid - eat up nearly $1.5 trillion of the federal budget (almost half). Young Americans don't consider entitlement reform an important issue because they are unaware of its growing cost and won't receive any benefits from these programs for decades.

However, if nothing is done Young Americans will have to pay trillions in new taxes just to keep these programs operating. Over $50 trillion in obligations to these programs is not paid for. The Big Three must be reformed as soon as possible to stop it from drowning future generations with higher taxes (Schoen, 289).

All American workers, including Young Americans, pay for Social Security and Medicare. It is paid through the FICA tax, which is levied on individuals and employers. Approximately 7.65% of each paycheck is taken to fund these programs. In fact, over 70% of Americans pay more in FICA than income taxes.

As the baby-boomers grow older and retire, they will add to the cost of these programs. In the next few decades, trillions of dollars will be taken from Young Americans to pay for programs that will likely collapse long before they see any benefits. For example, Social Security is expected to be insolvent by 2037. Medicare may collapse within the next ten years.

Politicians in both parties have failed to address the entitlements issue for years. Millions of older Americans rely on Social Security and Medicare. Whenever politicians discuss possible changes to Social Security and Medicare it makes older Americans nervous that their benefits will be cut. For example, some refer to Social Security reform as the “third rail” of American politics (Stolberg, A19).

All Americans, but particularly Young Americans must be more vocal in discussions about entitlements and demand immediate action from the federal government. There are practical solutions to the entitlement problem, but we need politicians with the courage to confront the problem.

The most high profile proposal to entitlement reform has been put forward by Wisconsin Congressmen Paul Ryan. It is called the Roadmap for America. The Roadmap addresses Social Security, Medicare, and Medicaid with common sense solutions.

Social Security is the largest item in the federal budget, costing over $700 billion next year alone. It provides retirement income to over 30 million Americans. As baby-boomers retire, it will provide income to millions more. The program will soon pay out more than it collects from workers forcing it to dip into its reserve. It is projected that Social Security Fund will be completely ...