EDITORIAL: Big budgets prompt loud critics, but no one talks about entitlement reform - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Newswires RSS Get our newsletter
Order Prints
February 15, 2016 Newswires
Share
Share
Post
Email

EDITORIAL: Big budgets prompt loud critics, but no one talks about entitlement reform

St. Louis Post-Dispatch (MO)

Feb. 14--President Barack Obama has submitted an eye-popping $4.1 trillion budget that addresses the troubled reality confronting Americans today: A crumbling infrastructure, an untrained and unprepared workforce, looming environmental catastrophe, a broken immigration system and rising threats from domestic and foreign extremists.

The president is correct that more dollars need to be invested if America has any hope of overcoming these big challenges. But the president is woefully mistaken if he thinks Congress will agree to this level of spending, along with net tax increases of $2.8 trillion, in an election season where big government serves as the shorthand reference to everything bad happening in this country.

The president has handed the gift of distraction to his Republican critics. Because of this budget, no one will talk about the elephant in the room: entitlement reform.

Expect no shortage of speechifying about the tax-and-spend, big-budget Democrats. They will point to ever-rising deficits, which are forecast to total $6 trillion in coming decades.

They'll get no argument from this newspaper. Deficits pass to future generations the burden of paying for the services Americans are enjoying today. And yes, the bigger government gets, the more inefficient and wasteful it becomes.

Politicians will point a finger at others and promise that if you only vote for them, these spendthrift ways will end. Believe them at your peril.

The truth is, scores of expensive, top-priority problems need to be addressed immediately. Yet two-thirds of the budget is already spoken for because of mandatory entitlements such as Social Security and Medicare. Defense spending takes up most of the remaining funding.

All those other important priorities that politicians talk about -- taking care of our veterans, improving K-12 education, boosting border security or fixing the nation's decaying roads system -- must be handled using a measly 13 percent of the budget, according to Heritage Foundation analysts.

For all the grandiose promises that politicians from both major parties make about fixing what's wrong, the simple truth is that there's not enough left to accomplish what needs to be done.

Until Congress and the next president tackle entitlement reform, that two-thirds portion of the budget will only continue to gobble up the lion's share of your tax dollars. And those of your kids. And their kids. House Speaker Paul Ryan, R-Wis., has tried to get his GOP colleagues to engage, but he also has failed.

For all their talk of austerity, Republicans cannot and will not come up with an expenditure-cutting plan that can fix the budgetary black hole caused by entitlements. Nor can the Democrats dig us out with proposals such as bigger, better national health insurance coverage.

So be wary of politicians selling snake oil. If they don't have a plan for entitlements, they're a part of the problem, not the solution.

___

(c)2016 the St. Louis Post-Dispatch

Visit the St. Louis Post-Dispatch at www.stltoday.com

Distributed by Tribune Content Agency, LLC.

Older

Long Island University Announces 67th Annual George Polk Awards In Journalism

Newer

Bill Seeks To Clarify Kentucky’s Unclaimed Life Insurance Law

Advisor News

  • Your client’s $3 million portfolio doesn’t tell you their insurance needs
  • How life insurance can provide liquidity for wealthy families
  • Retirement providers turn to digital engagement to retain assets
  • Looking out for clients with diminished mental capacity
  • House panel advances CLEAR Forms Act backed by IRI
More Advisor News

Annuity News

  • What lower interest rates mean to annuity payouts
  • AM Best downgrades A-Cap insurers amid financial and regulatory troubles
  • Lawsuit claims Delaware Life hid billions in insurer-linked investments
  • AM Best to Deliver Presentation at 2026 ACLI Annual Conference
  • Global Atlantic Announces Launch of ForeLifetime Income, a New Fixed Index Annuity
More Annuity News

Health/Employee Benefits News

  • Top Workplaces 2026: Benefit winners buck health insurance trends
  • Cayuga County holds off, for now, on retiree health insurance change
  • Conn. can halt Diamantis' pension, but can't revoke his health insurance
  • Idaho lawmakers hope to ensure timely doctor payments, treatment approvals in Medicaid transition
  • Warner calls for low-cost public health coverage Warner calls for low-cost public health coverage
Sponsor
More Health/Employee Benefits News

Life Insurance News

  • Life insurance protects dependent loved ones
  • AM Best Affirms Credit Ratings of Horace Mann Educators Corporation and Its Subsidiaries
  • Abacus Global Management Completes Landmark $400 Million Securitization
  • New Rules: This bill could help cannabis companies finally get insurance coverage
  • Time to revisit your clients’ life insurance coverage
Sponsor
More Life Insurance News

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Press Releases

  • Lauren Sinnott Named to Ragan’s Top Women in Marketing Awards, Class of 2026 
  • Classic Car Insurer OpenRoad Insurance Expands to 40 U.S. States in Two Years
  • How Aspire General Turned an Early Technology Bet Into Claims Automation at Scale with Kyber
  • Adjusto launches AI-Native contents claims services powered by its technology platform
  • URL Insurance Group Celebrates 40 Years of Service, Growth, and Industry Leadership
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.