Entitlements Will Eat America’s Economy
As we did in the 1990s, lawmakers should put aside partisanship and get to work on reform.
It took almost 200 years for the federal government to accumulate its first $1 trillion in debt. The next $20 trillion took less than four decades.
Tackling the growing costs of entitlements doesn’t mean Americans must turn their backs on those who have fallen on hard times and need help. As governor of Ohio, I oversaw an effort that reformed our Medicaid program dramatically. Without denying coverage to those who relied on it, we cut annual growth from a 9% yearly average in 2009-11 to an average of less than 2% since 2016. Success is possible.
.. Remember the example of 1997, when a bipartisan coalition in Congress worked with a Democratic president to reform the welfare system, rein in military spending, and balance the federal budget.