Everyone can agree that the government's budget and debt is
a huge issue that needs to be dealt with. Talks of budget cuts and tax
increases run rampant, but none seem to address the real problem with our
government's financial situation: old people. Almost half of our spending is on Medicare and Social Security - programs
specifically for the elderly - and it continues to rise. It certainly doesn't
help that the population of those over 65 keeps rising - it's expected to more
than double by 2050. This creates a huge problem; we can't afford to
spend money on these programs at the rate we do now, or there will literally be
no room for anything else. We also can't really cut funding in important areas
such as defense or education. The only other options would be dramatic tax
raises or even greater debt, neither of which are good.
Funding for these programs desperately needs to be
reduced. However, that is very unlikely, as people over 65 are much more likely
to vote than any other age group, and would certainly be opposed to reducing
their free Ponzi money. People aged 55 to 64, who will soon be eligible for Social Security benefits, also vote more than younger age groups. It also doesn't help that most lawmakers are also old; the average
age of Senators is 60, and the average age of members of the House 55. These people, who
have the power to change the law, are unlikely to do so, whether it's due to
their nearing retirement or general sympathy for people of their generation. Either way, allowing these programs to continue on the route they're headed on neglects the younger generation, and will prove to be extremely detrimental to everyone.
Changing demographics also amplify the problem. The life expectancy of a 65-year-old has increased from 14 years in 1940 to almost 20
today, and will continue to rise with modern medical advancement. In 1940, in
the early years of Social Security, the number of covered workers for eachbeneficiary was 159. Today it’s only 3, and it continues to drop, expected to
reach 2 by 2033. Birthrates are also at an all time low, meaning that as the current population continues to
age, there will be fewer and fewer people to join the workforce to replace them. The scary thing is that there really isn't much that can be
done. We can't really cut the funding, as it would greatly anger the elderly
population, nor can we afford to drastically raise taxes or debt, and mass euthanasia is clearly out of the question. All that we can do
is sit and wait for everything to come crumbling down.