Friday, May 24, 2013

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Democrats would like tax reform to raise more revenue. Republicans might agree if it is tied to an even bigger reform: making entitlements sustainable. This will be hardest of all. Social Security (public pensions), Medicare (health care for Burberry swimwear sale old) and Medicaid (health care for Burberry casual pants sale cash-strapped) are immensely popular. Politicians who mess with them tend to lose their jobs. And mens Burberry plaid pants nation’s finances are less alarming than they were in 2009. The budget deficit has been roughly halved, and health-care inflation has fallen. All this makes it harder to persuade voters that fixing entitlements is urgent.

Yet it is. Reforms will take years to have an effect, so they need to start now. Otherwise as Americans age Burberry pants lil wayne cost of pensions and health care will eventually crowd out other public services and imperil Burberry coat outlet nation’s fiscal health. Our memo offers some suggestions for averting this calamity. The details matter less than a couple of broad principles. First, as people live longer, they should work longer (we suggest America’s retirement age could gradually rise to 70). Second, for all Burberry coat women sale hot air about “death panels”, Burberry trenchcoat outlet cost- effectiveness of a health-care system matters. More than perhaps any government in cheap Burberry handbags nordstrom world, America’s pays doctors to do stuff, rather than keep people well. That has to change.

Mr Obama cannot solve any of this alone. Offer Burberry handbags outlet sale Republicans too little and they will scaremonger from Burberry quilted jacket sidelines. So he should be bold. He could offer to raise Burberry jacket replica age of eligibility and expand means-testing for Medicare and push more people off disability benefits and into work. This may not bring enough Republicans on board, but Burberry jacket outlet sale only way to find out is to try. Letting in dynamic immigrants, revamping Burberry scarf cheap tax code and reforming entitlements would make Burberry scarf bloomingdales Great Society safe for another generation. Not enough to get Mr Obama’s face carved on Mount Rushmore, but not bad.

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