Inflation and Debt: The Interaction of Fiscal and Monetary Policy (Part 3)

"Pinch our belts" and implement price controls (which always results in shortages) as a way to salvage this mess? The chickens from FDR and LBJ's follies are coming home soon, so goodbye to these socialist wet dreams. BTW, do you know what's in the SSI lock box? The cash has been spent by politicos long ago, and there's nothing left but a stack of IOUs for future generations.

Medicare...

If we don't salvage it, medical care will really stink 20-50 years from now when our (grand)kids need it.

Also, a part of the solution is finding ways to limit the profits hospital and pharm companies make.

No, we can't have affordable health care AND pay specialists, pharmaceutical researchers, and stockholders a bundle.

And the situation is bad but not as bad as mentioned in the speech since he was dealing with forecasts.

Medicare...

The gov made a miscalculation by promising to pay with few restrictions. The effect is that health care costs have gone up a lot over the years.

The system has helped a bunch of people, but, to move forward, we all need to pinch our belts a little. This means putting downward pricing pressure on the health care industry and workers/insured paying a little more per paycheck.

With controls in place and more people (eg, younger folks) paying a little more, we can salvage the system.