My problem is more fundamental. We now schedule automatic and large increases in spending on some programs, but not for others, without even going through the process of deciding what are our most important needs. Our society does have much to be thankful for, but it is not without its problems. The poverty rate for children is now the highest of all age groups and that is unacceptable. Our educational system is in many ways wanting.
Crime rates are much higher than a few decades ago.
New emergencies, both domestic and foreign, almost certainly will demand attention and resources over time. When various programs for the elderly and near-elderly are put on a very high and automatic growth rate, they automatically absorb resources that might be spent to deal with these other problems. Today social security, Medicare, and Medicaid long-term care are on such a fast growth path that they are scheduled not to lay first claim on more than all of the revenues that will derive from growth in the economy. Put another way, they are scheduled to absorb 8 or 9 more percentage points of gross domestic product than they do today. Translated into tax terms, these programs would require at least a doubling of the social security tax rate to cover their scheduled expenses, even ignoring any negative impact on the economy.