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How to Reform Entitlement Spending: A Memo to President-elect Obama

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Publication Date: January 2009

Publisher(s): Heritage Foundation (Washington, D.C.)

Author(s): Brian M. Riedl; Alison Acosta Fraser

Special Collection: Presidential Advisory

Topic: Banking and finance (Taxation and tax policy)
Economics (Economic policy, planning, and development)

Keywords: Medicare reform; Social security; Presidential transition

Type: Brief

Coverage: United States

Abstract:

Unless Social Security, Medicare, and Medicaid are reformed, America faces a future of soaring taxes and government spending that will cause poor economic performance. Americans will pay onerous taxes, and future generations will have lower living standards than Americans enjoy today. It is vitally important to take up this challenge and make entitlement reform a top priority.