Week 2 Discussion 1
From the first e-Activity, discuss three (3) major government programs that impact federal spending and whether any of the programs can be realistically cut. Justify your response with examples
In the past, three major programs were established for long term benefits: Medicare, Medicaid, and Social Security, but no one knew that these programs would be the fastest growing source of revenue.
1. Medicare- is a federal system of health insurance for people over 65 years of age and for certain younger people with disabilities. Realistically a person over 65 would not be able to afford an insurance that will cover everything that they would need from healthcare to living assistance, so there is no way that this program could be cut without causing negative impact.
2. Medicaid-a federal system of health insurance for those requiring financial assistance. This program is mostly based on low incomed families. I believe that if we have the Affordable Care Act in place, why should we continue to have Medicaid, if the ACA is also a way that people that can’t afford healthcare receives it. It’s like one of the same.
3. Social Security-any government system that provides monetary assistance to people with an inadequate or no income. (in the US) a federal insurance program that provides benefits to retired people and those who are unemployed or disabled. In the manner that Social Security is going now it will no longer exits with in the future in 30-40 years out. In placing private investments like Thrift Saving Plans, 401(k), and any other retirement plan that is offered through employers would be benefit the retired people. On the other hand, the disabled and unemployed people would not have assistance.
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