MONTGOMERY, AL (WSFA) - Babies born today will face a grim reality by the time they are in college: interest on the debt and benefits for Medicare, Medicaid and Social Security will consume the entire federal budget. There will be no money left for anything else.
Clearly, we can't let that happen. It will literally be the downfall of our country if we let it happen. The time to prevent it from happening is now. It will take backbone and hard choices from our elected leaders. It will also take pressure from us to make sure those leaders address the issue.
To lower interest payments on the debt, we need to lower the debt. To do that, we need to cut spending. The federal government is spending more than 100 billion dollars this year alone in Afghanistan. That is not sustainable. The double wars in Afghanistan and Iraq have cost us over a trillion dollars.
Raising the retirement age to 70 will help address the Social Security benefits shortfall but unless health care costs decrease this sacrifice by those now entering the work force won't matter.
The federal government can't live beyond its means any longer. It is borderline unconscionable that we have allowed it to happen this long.