Conservatives are touting entitlement reform as a solution to looming deficits. But, as the title of this video suggests, this is not the route to take. Entitlement reform is a distraction. Changing social security and medicare doesn't affect the deficit, and changing the rules to raise the age for recipients only shifts the burden to the next generation of laborers. So what is the solution? What is the major drain on our budget that truly does need reform, and how can that be done?
Subscribe to The Regulators on Town Square: http://www.youtube.com/subscription_center?add_user=townsquare
Support The Point for FREE by doing your Amazon shopping through this link (bookmark it!) http://www.amazon.com/?tag=townsquaretyt-20
Unfortunately you are a bigot but please take heart because here in the good old USA we honor bigots as quintessential Americans. And we have a history than amply proves it. Like virtually all governments of this world we have institutionalized bigotry and discrimination which is always the served as the cold, bitter and unappetizing soup du jour. I will defend your right to verbally express your bigotry as a perverted and infantile but only as a necessarily allowable element of free speech. If we limit your right to utter bigotry then we greatly diminish our own rights of Free Speech. And that is why authoritarians first seek to destroy Free Speech in order to control a populace. I accept the fact that you are a coward making your hateful statements as a common anonym behind the small-minded cloak of a virtual white sheeted purveyor of intellectual and emotional cannibalism. I personally detest all religions in part because they are primarily political institutions which in the majority of the countries, including our own, are used to oppress and control their citizens. The mixing of politics with religion is nothing more than the imposition of political, economic and the pseudo morality of one group of individuals upon all who do not hold their point of view. Religion produces bigotry as illustrated by the antipathy toward Jews and recently the newest old target - Muslims. I am a life-long Leftist. The vast majority of my adult working life was spent as a small business owner. When I became disabled and could no longer work I owned several businesses. I worked an average of 12 to 15 hours per day seven days a week. I like money for what I can do with it. But in the end money is not a commodity and only has value as a means of exchange. Unfortunately our national religion is worshiping the Gawd Almighty Dollar as we exchange our souls for all it can buy. This is why in America the rich deride Socialism while enjoying far more welfare than We, The Rabble receive to help us through what for most are temporarily financially rough times.
Unfortunately I have experienced the worst of both our economic and medical system due to what happened to me in Vietnam. I spent 23 years living in unmitigated poverty and only able to survive through public welfare programs of both the federal and state governments - including Medicaid for me and my then very young daughter. I was sitting in waiting rooms of our state Department of Human Services both before and after the FDR Era AFDC, a public assistance program, was destroyed and a new permanent underclass of primarily women and children was created. The Capitalist Class has managed to vilify Socialism despite the fact that it has very viable economic system with elements worthy of incorporating into our current and disastrous economic system that would benefit the vast majority of Americans. The worst part of this vilification is that the Capitalist Class has manged to transform our natural and human obligations to one another into an ideology that desperately calls for us to ignore and not act upon the best of our human values. Mutual endeavors and caring for those of us in need is not unique to our species. To a lesser extent what we should tout as the best of our humanity is found at a more rudimentary level in other species. We are by our nature a cooperative species which has been subjected to the greed and bullying of the few. A quintessential example of that greed and bullying can be found in our Medical-Industrial complex which provides the worst care of any rich nation because it is based upon the worst characteristic of capitalism: unadulterated, destructive greed and the bullying it takes to sustain the system. My friend, devout adherents to Capitalism, especially Free Market Capitalism, are nothing more than Priest and Priestesses in the Religion Of Greed. And the rest of us are their altar boys and girls.
For an economy to work it must be based upon our innate means of survival in this world and amongst ourselves through barter and trade. No one individual is capable of providing for himself or herself solely through what one produces with individual efforts. Humanity is probably the most interdependent species on this planet. As an illustration consider this: in our Supermarket Economy the array of fruits available out of season to titillate one's palate were produced by and then shipped from another country in the cycle of seasons opposite our own. While a nectarine in January taste delicious little more than a hundred years ago before refrigerated rail cars lettuce produced by farmers even in season was served in soup. Can we live without nectarines in January? Of course there are plenty of in season foods to eat although our palates might find them boring because we have grown dependent upon the fruits of our interdependence to indulge palates with choices once available only to monarchs and those they allowed to be rich. Accordingly what you deride as Socialism (with some reforms) is much closer to the economic system we need to live under than greed driven cutthroat Free Market Capitalism can ever, ever be. Here is what most Conservatives and most Establishment Liberals in the US fail to understand or deliberately ignore about the needs of our citizens: Human Beings cannot be quantified and reduced to an economic value.
In that Free Market Capitalism only rewards the greed fueled few at the expense of all others it is the ultimate expression of bigotry. The inordinate wealth of the very few and the lesser rich is nothing more than the same old economic system of Monarchical Capitalism we have under since we started to build Civilizations or more appropriately an expanded Tribal System. A system where The Monarch (Think Billionaires, the Ultimate Monarchs Of Money) and its 1% enjoy wealth and power and the rest of us are work to make them richer and are denied a much better quality of life that our labor should produce (and this includes small and medium sized business owners). This Free Market Capitalist system is the expression of the worst of our very real animal nature whose practitioners often proclaim themselves to be acting under the esoteric laws of the proverbial jungle where dogs eat dogs while through metaphorical devices and sometimes literally subjecting everyone around them to their will for profit and gain. If one is not one of the few Monarchs of Money then one does not have a real and productive stake in the Free Market Capitalist Economy we now suffer under.
I am not an advocate of the Socialism as an economic paradigm. However, as a non economic social theory working for the common or general welfare of our society from my perspective I can only conclude that it is very much in keeping with the best of our human spirit and and higher values. All religious and economic systems we have thus far created profit from these values to our general detriment. Religion is used to make us believe are lowly place in this world is just alright while the very very few use us as their profits from the cradle to the grave. It is way past time to institute an economy of barter and trade refereed by government for the benefit of all and not the very few. Non economic Socialism is just alright with me.
Ben Chesterman There is less self Retirees because wages have not grown with work. Therefore, people don't have enough to save for Retirement because their expenses for living are to high to match their income. Pure Free market Capitalism is the Bane of Existence in America. We need a Balanced system of Some Socialism and a lesser extent of Capitalism for a fair efficient running Country. This you too will learn one day when you need help and no one else is able to help you and you can't help yourself either. This sink or swim deal where they don't want to even throw you a lifesaver to help you float. Also known as pure Capitalism is going to lead to the unfair demise of many in this country. I hope you lose those blinders you have on and stop knocking Socialism.
Ben Chesterman We are in Debt because America does not have it's own money. America has been borrowing money from other countries for a very long time now. It's unfair Distribution of money more towards the wealthy and tax cuts and exorbitant spending on the military is why there is a Deficit now also. With that said Truly debt comes from borrowing money and not being able to pay back the money as I mentioned in the Beginning. I also will state Furthermore, that the monetary operations of this country are criminal. If Social security was working as it was designed to work there would be no problem. Instead it is being looted by those in power and it is in dire need of being paid back from the corrupt Government who stole From it! Entitlement programs are not the cause of the Deficit. It's borrowed money not being paid back and spending on the military and tax cuts for the wealthy and the wealthy privileged few squandering the money and Distribution of money more towards the wealthy that causes the Deficit. It's designed this way to be geared towards the wealthy.
Sorry dude, SS was never meant to fund people's entire retirement. If you haven't saved enough, tough luck.
@ 4:39 SS, Medicare, welfare, interest on the debt were 66 percent of Federal budget in 2014; defense was only 17 percent.
+wastrel09 I was going to say. I like this video by Reich, but he's dead wrong with his implication that entitlement reform is some kind of hoax or distracting maneuver from other more important reforms. There's a lot of great data out there breaking down federal spending, including overall transfer payments and various types of welfare. They keep climbing and climbing, and it's been going on a long time. It's not just a temporary issue as he says in the video. Some of the trends since the 1960s are incredible.
Someone needs to tell these jokers Social Security is NOT an entitlement.... It has been earned. The fact that these politicians squandered it elsewhere is there problem. Raising the Social Security age is breaking their promise and the same as stealing........ in fact, it is armed robbery since it is backed up the force of the US Gov.
I don't like the independent contracting either, particularly with the NSA. The government has done a lot of good. My sister works for the FDA, and she is very diligent. I use the post office a lot in my business and I find those people work hard. So I don't get this the govt is completely useless bullshit.
And the Government Wastes all its money on private sector companies, they didn't actually go to space either. A nice step, but not even close. At least NASA has a vehicle on Mars. What has the private sector got, with its trillions?
where exactly have you seen a well-run health care insurance program that doesn't burden the actual consumer? If you point to certain ones, you are pointing to ones that only cater to younger candidates or people without pre-existing condistions. It's not about who can run it better, it's about actual coverage and health treatment.
Not really. Where is it? It's simply a group of people imposing certain decisions they have made through force. There's no actually thing you can point to and say, "that's the government." It's just an idea we have given power to.
I'd rather the government that is regulated than funding some corporate entity that is unregulated and may kick me off healthcare, or at least provide lousy service for the exhorbident cost. There is never enough profit for those people.
Private sector will always trump the wasteful spending of the govt.
Just look at the latest space enterprises, a PRIVATE company was able to design, build, and launch a ship in space, with under 25 million.
Our govt would have spent 5 times that, and it probably wouldn't even work!!
Who created the rules for Wall Street and baking, and ensured those donating to their campaigns were taken care of? Oh yeah, the federal government. I'm still open to being shown any program the government runs as efficiently as the private sector. Tick...tock...
Hello, sheep. That you think being a public organization automatically means poorly run proves you're clueless as just about anyone could be. I read a few more of your comments, and you belong in a mental hospital. Jesus what a nutjob.
What's disgusting is your ignorance. Don't blame me for telling the facts. Their generation left behind a huge debt for the next generation and you're going to ignore that with some flimsy story of one individual? Pathetic. I don't give a damn about your views, the charts don't lie. A country can't have deficits larger than their GDP. You should try to spend more than you make and if you're homeless than maybe you'll wise up dumbass. Don't lecture me when you don't know jack. Boomers are spoiled
As a 60-year old American I have a stake in Reducing Medical Costs - including dis-allowing many unnecessary treatments and stopping a lot of end-of-life care, where 80% of lifetime medical-care costs are. You can control these costs since it is Insurance, Medicare, and Medicaid that control them now. You must be young. In my years, I rarely saw a doctor - I had no insurance and was healthy. But you prove that "they" wish to divide the people - Young vs old, sick vs healthy. You joined "them"
Have you ever lived in America? The government subsidizes corporations so dream on with the Corporate tax. There's no such thing as 'control' medical costs! These old people are getting sicker. They demand more from the government regardless if there is any money. Decades of eat & drink anything, chronic drug use, and no exercise is going to impose the next generation a hefty bill and for what? They're not immortal, they will die anyways. We should have a pay your own way insurance= fair.
One becomes a Cancer Survivor the day of diagnosis. Perhaps a more accurate measure would be cancer death rates. How many are dead within five years of diagnosis? How many after one year? Using "survival rates" purposely misstates cancer deaths. High costs and unnecessary procedures do not guarantee good health care. I wouldn't bankrupt health providers, but I would eliminate waste and unnecessary procedures. It's okay for doctors to make their $300,000 per year - that's why they have PAs.
If you paid attention, you would have heard Mr. Reich explain that we need to control medical costs. Medicare and Social Security are both payroll taxes. Perhaps a Defense Tax would put things into perspective - or a Corporate Entitlement Tax. Yes, there is a disproportionate number of aging people. Controlling their Medical Costs now will help future generations get the care they need when they get older - as they probably will.
Commerce is no longer free. It is manipulated and managed and lobbies to get what it wants - more Profit. If it truly were a free market, I'd support it. But it isn't.
As Mr. Reich explained, there are far too many unnecessary "billable procedures". Drug companies can charge whatever they want - Medicare does not provide for bargaining, which a Free market would. If you support a Free market, you would know this.
Great video. And let us not forget that both Social Security and Medicare are payroll taxes.
Why not instigate a Defense Tax? Corporate Entitlements have lobbyists who buy Congressional votes. Defense costs as much as Social Security and Medicare combined, and that's doesn't include the Black Military budget, estimated to be as big as the amount reported. Thank you Robert Reich for an excellent explanation. I hope more people view this.
This is where the trust and relationship between the patient and doctor come in, and the patient is perfectly capable of doing their own research regarding treatments and medications. As for treatments and not cures, the vast majority of treatments and cures come from the US. Because of our market system, we always have access to the most cutting edge technology. We have far better cancer survival rates than Europe for example, but yes, as a trade-off, higher costs.
Actually, the Declaration and Constitution were all about putting into place the eventual collapse of slavery. We ended slavery before Brazil and the Ottoman Empire, the two other preeminent slaver nations. It took the Ottomans until 1913 to end slavery, yet it's always America, particularly the American South, which is supposed to carry this historical burden, despite that slavery was the default economic system during the colonial period, across the Americas.
Are you serious? Insurance is something I can use now. I don't have to pay for decades for someone else to enjoy and wait until the time when I need it someone else will take care of me. Do you even know what a pyramid scheme is? Insurance is great- it averages out the burden. Entitlements screws the young because by then the money will be all GONE. The elderly population are just going to get sicker and spend more money on expensive medical treatments to delay the inevitable death. You're dumb.
In that case, insurance is a ponzi scheme too--the healthy spend money to prop up the sick. Everyone can get sick. And guess what, if we don't take care of the sick, almost none of us will get old enough to collect on social security.
Entitlements are repugnant. It implies one generation eats while the next starve. It is a government sanctioned Ponzi scheme. It is mathematically unsustainable. The government has no business promising checks it doesn't have funded. Let there be entitlement cuts, this country is obsessed with making old people die in comfort while young people carry student debt and higher taxes to prop up entitlements. Jeff Miron PhD of Harvard Economics shows entitlements is a cancer to federal budget.
Really? In the bible Yahweh casts favor on the Jews. Is that any different than the government casting favor to companies like GE, Solindra and several others? In the bible Yahweh calls for the Jews to kill the Canaanites is that any different than the wars our government has waged on the Middle East. In the bible Yahweh interferes with many societies is that any different than the government interfering in Latin America?
The Libertarian ideals do not work? Where's your proof?
onyxavatar Neither does pure Unadulterated Capitalism! We need a Balanced system for the Good of all and not just the wealthy privileged few! It's not right to make the DIVIDE so wide that those that need care or help are Denied or short changed.
You have still failed basic economics if you attempt to argue that putting the entire populous on Medicare or Medicaid will actually solve a problem. Someone must still pay the bill. A single-payer system does nothing to curb the rising costs of medical care. Without competition, there is no incentive to be efficient or enact cost-saving measures. Someone will always pay, so prices continue to soar. You know, exactly like they do today.
I'm so impressed. You would think someone bragging about their college education and attempting to boost their credibility by using Latin could formulate a proper sentence. The last time I checked a basic primary school grammar book, "and rhetoric" was not a complete sentence.
I can also see where one might take an avatar to be a sign of intelligence. You really got me good there.
Tell that to the scientists & researchers at Berkeley who worked on groundbreaking material, & paradigm-shifting discoveries in the fields of physics, chemistry, genetics, etc. Just because a Nobel doesn't mean much to you is because it's your opinion. You cite doctored up evidence with no proof. Local governments receive block grants from state governments who receive them from federal government, they're all interconnected, you didn't respond to the fact that you live in a socialist country.
Obama, the guy using drones to kill people without authorization has a Nobel. Al Gore has a Nobel for his climate change research, which was based on doctored-up science. A Nobel means very little.
Last time I checked, state and federal government were separate entities. Police, schools, fire, and utilities are paid for by property taxes and usage fees at the local level. Do you have any understanding of economics and finance?
Then why does Nobel Prize winning economist Paul Krugman agree with him? Do you have a Nobel? Have you been to UC Berkeley? Do you have a BAEc? Entitlements aren't the problem, low taxes are the problem & have been since Ronald Reagan altered the tax code & shifted the burden to the middle class instead of the wealthy. Newsflash dude, you live in a socialistic state: police, fire departments, public schools, municipal utilities, Social Security, MedicAid, MediCare, all socialistic institutions.
''you play right into the hands of those who have you believing in this nonsense'' Nonsense conspiracy theories and hating people who've done better than you? Check. Please mention racism, misogyny or homophobia, than you would make an excellent standard liberal youtube commenter.
I have no problem with you wanting to give more and more of your money to the government, just don't force others to do so. Most of your comment is utter bullshit, as I said before and maybe it just didn't sink into your head, if you would directly invest all your savings into federal bonds you'd get a better return, than when SS does it for you, it's a fact; with third world bonds the returns will even higher. Yes, way for you to a sheep.
Medicare and SS are actually VERY well managed programs, and private industry has utterly failed to perform as well when given the chance. Denigration of "government" as some nefarious usurper of freedom is beyond silly, and you play right into the hands of those who have you believing in this nonsense. Way to be a sheep.
Beck's an "entertainer". Reich is a policy wonk, and highly intelligent. What he says is demonstrably true. What Beck says, is demonstrably false almost universally. The fact that you equate them, demonstrates you have the mentality of a peanut.
We so need to get away from the idiotic deregulated "Free Market" style of healthcare. The same dumbasses pushing "Free Market" healthcare as a solution are the same ones that brought us "Trickle Down Economics" which spectacularly failed in 2008. And now their "Free Market Healthcare" is a failure too.
I agree, it would be nice if the gov also started subsidizing fruits and vegetables a bit more. This way more people will be able to afford it creating a healthier diet and less spending due to obesity and other illnesses
Very true. Health insurance causes more problems than it helps. It used to be that people paid cash when they went to the hospital or saw a physician. It was pretty affordable unless you were really poor. Problem now is that our advanced technology is VERY expensive. Even if we cut cost in half the avereage person still couldn't afford a moderate health problem. I just don't think the free market can fix that problem. You would still need some kind of insurance or universal health plan to help.
In a free market, you wouldn't have need for insurance. Besides, it's not "insurance", it's health care. Your car insurance doesn't cover oil changes and your home owner's insurance doesn't cover furnace tune-ups. Why would health care cover physicals? The whole idea is a sham. You would be uninsured, save for major medical. Like having collision insurance on your car.
I like the idea of a totally free market system. I just can't see how it would work with health care. Insurance companies unregulated dictate what care you can have and how much they will pay the physicians. They team up to blackball hospitals and & doctors that won't accept their lower payment by taking them "out of network" & depriving them of customers. Then they deny coverage to customers with pre-existing conditions leaving millions without insurance, which cost the hospital money. No good.
Medicare/Medicaid expansion is not an answer. It simply drives higher taxation to offset for more in the program. The only answer to health care is to return it to a free market, which will in turn regulate pricing through efficiency and competition. Reich is wrong on this, and most things.
How about a 3rd option, not taking anything for SSI & leaving it up to the individual on how they choose to implement their health care & retirement. What they don't tell you is many of you (us) won't live long enough to collect on those IOU's & your family won't be able to recover it. Statistically a quarter of the pop. will never see personal benefits from paying into SSI.
hey, there are a few people who understand what a lie that entitlement venom the republicans spit out. The amount of money given to the richest corporation is a lot more than anything the people get. Conservatives only believe it because they want it to be true.
I got charge 1500$ total from hospital and Doctor bills for 3 stitches in the middle of index and middle finger. I cut myself with can of beans lid that i was opening.:( but WTF 1500$ really i should have drove to Mexico.
You are so right! I am an RN and I have been trying to explain this to people. Our health care system is not efficient at all. It's so wasteful! Fix our healthcare system and it will fix most of our ecomonic problems!
Campaign finance reform or you cant cut the ties corporate powers have on our government and actually have them care about growing any sort of lower or middle class.The problem is blood, union battles in the past required people to bloody lips of entitled factory owners and in the same sense our 1% has no sense of self preservation in how obvious and blatant their abuses of the lower classes are. If there is a class war the elites started it. Just a matter of time and place for the serfs to rise
you are using the old formula for them to get rich. They no longer even use property, which relies on the growth of the wealth of everybody else. The REALLY rich rely on OTHER peoples money, and then they do what they did on the Mel Brooks film, the Producers. They crash them into the ground and steal the surplus. Comlex financial fraud is how many billionaires make their money.
We need to get every conservative good 'ol boy in America to watch this video. This was such a calm, rational explanation even the most fervent tea partier would have a hard time finding anything to shout about in it.
If they are so good, why are these programs compulsory? I don't understand why people just can't save for themselves, why they have to elect government officials to force them to pay into programs, which are managed so badly, it looses them money in real terms.If you would invest straight into Fed bods, which hss incredibly low returns, you'd get a better deal, watch the LearnLiberty video on this.
Not to mention our Agricultural Industrial Complex is the main reason we are so un healthy. They link with Government to create laws and regulations that hurts the small farmers that produce healthy raw food that our ancestors have been living on for the past thousands of years. If we fix that we fix the Health Care issue. Ok at least half of it.
The class of drugs that Levitra, Viagra, Stendra, and Cialis belong to are called PDE5 inhibitors. They work by relaxing tight blood vessels, allowing more blood to surge into the penis and cause an erection, says Gregory Bales, M.D., an associate professor of urology at the University of Chicago.
The little pills do the trick for more than two-thirds of men with Viagra protects the heart (ED). They also work for guys who simply need them for a short time to get their “confidence back,” says Michael Eisenberg, M.D., director of male reproductive medicine and surgery at Stanford University.