If you want to talk about the fiscal concern that we need to be watching in our country, it comes from Medicare, Medicaid, and Social Security. This is the budget that is being proposed. This is how much money we have in terms of receipts. This is the money that is coming into the government. This is what we're proposing spending. And if you take a look at that, more than half of that is Medicare, Medicaid, and Social Security. Those programs are called entitlements. What that means is we wrote some laws a long time ago. It's like a machine and somebody's turning the crank and it spends money, and it's spending more than half of what this budget shows and quite a bit more than what we have in terms of receipts. So that is a big question. And that is one of the things that we must deal with.
On the recordFebruary 3, 2010
Source
govinfo.govEditor's note · Context
The speaker addresses concerns about the fiscal impact of entitlement programs on the federal budget.
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