President Bush has started a national dialog about changing Social Security. We are talking about impacting the life of everyone in America. We are talking about spending trillions of federal dollars. We are talking about how the government can spend wisely to best benefit the people. It is time for us to embrace and extend this national dialog.
Few can argue that Social Security to the present has been one of the most successful federal programs. It provides a welcome financial cushion for those who have worked hard and retired. It provides support to those who have lost a husband, wife, father or mother. It represents a sound investment in the American people.
It has become apparent that the majority of the American people support the present Social Security program and want our government to act to insure a fully funded future. We must show good faith to the people, if you paid into this program, it will be there for you when you need it. We must also recognize that providing incentive for private investment in the stock market also has merit, but it is not appropriate to enact this program by gutting Social Security. Can the simplification of the current tax laws include a revenue neutral method to allow the low and middle income to invest in the stock market? This would seem to be one alternative which needs to be discussed. There are others.
But now, more than ever we need to step back and look at the big picture. There are more pressing social problems in America which must be included in this national discussion. The rising costs of health care, both private and public will be crippling to our future unless we begin to address them now.
Everyone, be they citizen, business or health care professional is concerned about the rising burden of health care costs. American companies cannot remain competitive with a global economy and continue to shoulder a significant portion of health care costs. Average Americans, even those with health care coverage can be wiped out by the costs of a major illness. Health care professionals acknowledge that the system is broken and may not be able to right itself. Also after 9/11, the public health system needs to be ready to protect the American people from potentially devastating bio-attacks.
America's health care system is the most expensive per capita in the world. And the trend is continuing in the wrong direction. Yet, by any measurable health care statistic, we are not getting very good health care. These costs are paid by every person and business in our country.
The federal programs are in similar shape. The projected long term costs of Medicare and Medicaid are also expected to be at least triple the worst estimates for Social Security and yet these under funded costs are not yet part of the current national discussion.
Drastic action needs to be started soon to avert looming public and private health care costs. Although some admire the President's willingness to undertake tough discussions, he needs to quit avoiding the 800 pound gorilla in the room. We are the only industrialized nation in the world which does not guarantee health care to all of its citizens. America's ability to compete in the global economy will be seriously curtailed until this is corrected.
I make no bones about the fact that I have no idea how this program would be structured, enacted or funded. There are no shortage of experts out there that have been wrestling with these issue for their whole professional career. My basic concern is that even if we cure Social Security, we have only dealt with a small portion of the problem.
I am hoping that our Senate and Congress can embrace AND EXTEND our discussion to the big picture.