The Truth About Entitlements
Is there a more loaded word for government spending than "entitlements"? Yesterday U.S. Chamber Chamber Executive Vice President Bruce Josten gave a speech on the 10 truths about America's entitlement programs. Among them:
- Entitlement programs are not self-funding and are a main driver of deficits.
- Longer life expectancies, changing demographics, and soaring costs explain why entitlements as we know them today are unsustainable.
- Not a single major entitlement program is projected to be financially solvent 20 years from now.
- Mandatory spending—entitlement programs and interest on the debt—are already squeezing out important investments in other essential programs.
You can read the entire speech here. Josten notes that "The real challenges surrounding entitlements is an ill-informed public, organizations that have existed for decades that oppose entitlement reform, and the absence of real national leadership."
In his speech Josten concluded with the news that the Chamber is stepping up to fill the void with a new outreach program to educate Americans on the truth about entitlement spending, the consequences of doing nothing, and solutions that will still protect the solvency of programs people really do need.