The Social Security and Medicare programs of the government are feared to become unsustainable for the years to come. This conclusion was reached after a projection was determined by the Bush Administration that the funds for both programs are slowly deteriorating. (Pear, Robert. May 2, 2006. Finances of Social Security and Medicare Deteriorate. The New York Times). The problem can be traced from the current financial crisis that our country is facing today. The budget that is given for the upkeep of these programs is taken in part from the amount of taxes that are paid by the constituents. A lot of citizen at this time have been laid off from their jobs thus they are without any source of income and this means that they do not have any income to pay for income tax. Taxes play a huge role in giving the government the budget to finance its programs.
The deterioration of the contribution of the people to pay taxes would have an effect on the ability of the government to sustain the Social Security and Medicare programs. It can also be said that the fees for the services of the doctors are also increasing and these professionals have to be paid. There would not be enough funds to sustain these needs. The rising costs of medical care without the corresponding increase in contributions for these programs would really put these in jeopardy. The government and the private sector such as the employers and the hospitals should work together to come up with a solution to address this concern. A lot of people rely on this program for their health needs and it would be a very big problem in the future if the prediction would be true that there would not be enough funds for these programs. A lot of citizens rely on this and the government should really think of ways on how to support this program for its people. The government can come up with cost-efficient solutions to provide for healthcare.
– Pear, Robert. May 2, 2006. Finances of Social Security and Medicare Deteriorate. The New York Times. Retrieved on May 4, 2009 from website http://www.nytimes.com/2006/05/02/washington/02benefit.html.