Robert Reischauer
Robert Reischauer
Robert Danton Reischaueris an economist and one of the two public trustees of the Social Security and Medicare trust fund. He is a nationally known expert on the federal budget, health reform, Medicare, and Social Security. Most recentlyhe served as president of the Urban Institute, a think tank based in Washington D.C. He is the son of Japan scholar Edwin O. Reischauer...
course cut decided demands democrats economy good hasty placed point tax unfold waited year
What the Democrats have is a good point that we probably decided on this tax cut in a hasty fashion. We should have waited to see how the economy was going to unfold over the course of this year and what other demands were going to be placed on the budget.
five growth next sluggish surprising
It would be very surprising if we went through the next five years without some contractions or sluggish growth.
cut grows next relatively size swallow tax year
The tax cut we put in place for next year is relatively modest. We probably can swallow that OK, but over the years the size of the tax cut grows exponentially.
hard
Without any symptoms, it's hard to say that one has an illness.
growing growth last less medicare program rate since spending
Medicare spending has slowed dramatically in the last year. It's now growing at less than 2 percent, which is the slowest rate of growth since the program started in 1965.
almost capital congress defensive momentum political reactive start survival
To a startling degree, the political capital and momentum that he had at the start of 2005 have been dissipated almost entirely. The administration is reactive and in a defensive posture, really. You have a Congress that is splintering and rebellious. ... Republicans are in a survival mode.
cost current few incentives providers system
There are few incentives in the current system for participants or providers to be cost conscious.
budget cover fashion lose president resolution
The Republicans would lose the cover they have from the President being on board. They'd have to fashion a budget resolution on their own.
bumps fiscal highway others speed
In the end, CBO and others are no more than speed bumps on the highway of fiscal irresponsibility.
viewed
This has to be viewed with some skepticism,
needs transition reform
Any substantial tax reform would involve substantial redistributions of tax burdens and substantial changes in asset values, and you need some 'lubrication' (i.e., transition rules).
people perception needs
There is no perception among the American people, nor their elected representatives, that there is a serious problem that needs fixing.
fighting two want
They fight so much for two reasons. One is they don't want to be blamed for breaking the spending caps. And secondly, they don't want to be blamed for spending the Social Security surplus on non-Social Security problems.
mean views people
We'll have a different set of values, and society will adapt. That doesn't mean these changes are all good, just because we will accept them. But the 'Chicken Little' view of history isn't correct. Changes take place gradually, and people and institutions adapt.