A Quote by John C. Goodman

For Social Security to be financially sound, the federal government should have $100 trillion - a sum of money six-and-a-half times the size of our entire economy - in the bank and earning interest right now. But it doesn't. And while many believe that Social Security represents our greatest entitlement problem, Medicare is six times larger in terms of unfunded obligations.

John C. Goodman

Quote Topics

Bank Believe Earning Economy Entire Entitlement Federal Federal Government Financially Government Greatest Half Half Time Interest Larger Many Medicare Money Now Obligations Our Problem Represents Right Right Now Security Should Should Have Six Size Social Social Security Sound Sum Terms Times Trillion While

Quote Author

John C. Goodman
Economist
Born: 1946

The real number of the US' obligations, unfunded obligations that we're passing on to our future generates is more like $70 trillion to $75 trillion. The vast majority of that is health entitlements - Medicare, Obamacare, Medicaid. There's also Social Security, interest on the debt. But fundamentally, health entitlements are the thing that will bankrupt our kids. We need to fix that for the long-term.

Benjamin E. Sasse

Social Security represents an $11 trillion unfunded obligation. And when I say unfunded obligation, I mean we have to come up with $11 trillion at some point to make the system whole.

John W. Snow

Do we really want the people who created $40 trillion of unfunded liabilities in Social Security and Medicare in charge of our health care? Faceless bureaucrats, power-lusting politicians, and people spending other people's money are a recipe for disaster.

Ed Crane

America should meet its obligations in the form of Social Security, Medicare, our ability to pay our military, legally binding legislation that allows unemployment compensation, the judiciary, the federal court system, the federal prison system, all those kinds of things have to be paid for.

Bill Johnson

You know, Floridians, we've paid into Social Security. Like a lot of other government programs, we sent money to D.C. We expect to get that money back. We expect that our Social Security is real. So, we have to fix Social Security.

Rick Scott

Thanks to decades of accumulated federal budget deficits and, more significantly, imprudent Medicare and Social Security policies, we've stolen almost $60 trillion from our children.

Steven Rattner

I believe keeping our promises should be our highest priority and that means saving Social Security and Medicare while preserving the American dream for our children and grandchildren.

Tom Coburn

When we think of entitlement programs, Social Security and Medicare immediately come to mind. But by any fair standard, the holy trinity of United States social policy should also include the mortgage-interest deduction - an enormous benefit that has also become politically untouchable.

Matthew Desmond

Social security is the most successful government program in our nation's history. We are not going to cut social security! We are going to expand social security!

Bernie Sanders

We need to preserve programs like Social Security and Medicare for our seniors of today and tomorrow. But we need to strengthen both Social Security and Medicare to make sure these programs are still available for future generations.

Joni Ernst

Counting obligations under Medicare and Social Security, the real debt of the United States is more than 10 times the reported national debt.

Addison Wiggin

Even the Congressional Budget Office and the Social Security trustees appointed by the president say that Social Security is financially sound, without any changes for the next 40 to 50 years.

James Roosevelt

There is a lot of room for improvement in Social Security. We owe our children the most financially sound system possible. They will have paid into it their entire working lives. They deserve to be protected by it. for our children and grandchildren.

Mitch McConnell

We have a serious structural deficit problem. And it needs to be addressed. The president is trying to address it through reforms of Social Security, but the problem is there with other entitlement programs like Medicare and Medicaid.

John W. Snow

Believe me, every American, every person in this country, if I have anything to say about it, will know precisely what is going on with Social Security, Medicare and Medicaid, because they are beginning to appoint people who are typical right-wing Republicans who want to privatize and cut Social Security.

Bernie Sanders

While the feds ... leave Social Security off their books, the government's obligation to make benefit payments to current and near-term Social Security recipients is certainly no less real than its obligation to pay interest on its Treasury bonds.

Laurence Kotlikoff

A Quote by John C. Goodman

Quote Topics

Quote Author

Related Quotes

Related Authors