Can you hear them? The groans rising up from all over Washington, D.C., especially from liberals and the media?
Santa forgot to check his list twice this year. Some of the naughtiest people are receiving the largest Christmas gift: a group of trial lawyers who joined with states to sue tobacco companies and a group of public officials who can't wait to spend money from the settlements.
A recent taping of William F. Buckley's Firing Line Debate, recorded in Dallas earlier this month hosted by the National Center for Policy Analysis and sponsored by the Hatton W. Sumners Foundation, will be aired at 8 p.m., Sunday, December 20, on KDTN Television/Channel 2and again at 2 p.m., Sunday, December 27, on KERA Television/Channel 13.
Let us hope that in the rush to fix Social Security's long-term problems, we also note that Medicare is already in crisis — and the Medicare situation promises to get worse and worse. Giving all our attention to Social Security and ignoring Medicare is comparable to setting a patient's broken arm while ignoring his ruptured appendix.
After nearly 25 years, the Congressional Budget Office is finally getting the public accountability and the editorial scrutiny it has mostly avoided since its creation. When the CBO was enacted on July 12, 1974, President Nixon's impeachment hearings were in full swing, and I was serving my second term as U.S. Representative from Delaware. I was among those who voted for the Congressional Budget Act of 1974.
The White House has begun its media blitz about Social Security reform, which will culminate in the White House Conference on Social Security on December 8 and 9.
The exploding cost of Social Security threatens to become the greatest financial crisis in American history. The unfunded liability of the system is twice as large as our national debt and exceeds the combined cost of all the wars fought in our nation's history. More than a financial crisis, the current Social Security system is fast becoming a human tragedy that will force us to choose between economic opportunity for our children and retirement security for our parents.