Mar 11, 2014|
Garland talks about the coming clash of generations over Medicare and Social Security shortfalls with Christian Weller of the Center for American Progress.
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Automatically Generated Transcript (may not be 100% accurate)
-- -- think it above the title of an article in the Washington Post called America's clash of generations. Is inevitable. Am when I first road that I served well at its bitter and hydration but. Did they know group bowling thing for a couple of days and -- good reasons to think. If it's not a war there might be you know a little bit of about but it always. -- oh we go to the experts to better understand this and and tells him of what we're reading news wrecked or there's an old story. Wherever senior fellow love from the Center for American Progress focuses on retirement income security. Christian bulletproof from welcomed sure appreciate -- call. If you don't mind 100 read from some of the articles that have collected this is a purse one. We're all of the journal ritual warm which will get worse before it ever gets better. No one wants to admit this because it's ugly and unwelcome. The players -- general relations is that intensify. You agree disagree. I typically. There we they're appointed for quick point it makes for good article but -- -- something dramatic like it. -- people. And indeed we needed when it comes to Social Security Medicare which the team that. Don't you know that being -- that by the -- and when you went to school financing an indication that you'll you'll. That the property taxes by the down in Wilmington that the need it's and I without substance. And him. It's the matter off. Value people to understand. Retirement system such as Social Security Medicare above -- site. That they are. And in -- people's lives of the workforce -- and -- done by most. People. Understand. Investing in. People -- and it's going to use the word claws on the by itself it's something that people have lived through in the children -- -- that Napster channels and that's not to say the bad. Sort of strip away the high that there isn't but it is here and in -- That. When it comes to governments in the prior. We'd have to happen on -- competition. We have been out of them. Recent government resources limited because government properties and even put the region's economic injury act in infinitely. -- -- -- -- -- It is probably didn't take it to spend that dollar helped it to spend it until security can be spent on education. It generally. The discussion. Here. Win the world and we happen it is society -- in education. Let's think about. Taxes -- to -- in three different. On in the article site from. Robert Hamilton. A columnist the Washington Post it's it's legitimately taxes if that for the cute starting point but then you have a problem but. We have but the problem there revenue coming in Pakistan and you know we have a local economy. The thing is that if on them spending priorities a class in recent -- then -- -- at the moment please weapon. In an inept -- It would be in the way politically old among Democrats and Republicans. Too much you know world predictable we have to look at how we spend money -- spend money and how we. In the way it makes sense that that. Impact on the economy necessarily. But that didn't need the values that we set out that is invested in non inherited these high school and college. It's definitely been -- -- we. Keeping him out of poverty and healthy as well as possible to social security and it. It in order to be able to pay that the young people Social Security Medicare Medicaid in order. Forbidden to be able to play these cute picture educational debt -- coming out of universities with. Don't don't we have to raise taxes some former -- Well I mean that there's different ways. It didn't. Let's let's go for the number two right now -- security -- -- to get a pick but he went 7% of gross domestic product. In the morning. -- -- the baby boomers retire this goes up to eleven point that the percent to 3% of gross domestic product. That he's small but -- but this amount of money that's about it right now but I'm a billion dollars in an extra dollars and -- politicking to come up. That's sustained amount of money. Now you can come up with some of this money by cutting spending elsewhere now receiving money. But we'll -- fighting in Iraq and Afghanistan there's some revenue this year there's the the -- to spend -- That that. Department defensive for the brief hearing. We're kind of partner poetry the troops and in that might be sitting there. Now that's that's a lot of money is because we are not my competitors. -- -- -- They get that the third big spending -- security Medicare and -- the military. So and so it goes in and were talking annually about 4200 billion dollars that you can just take out. The military -- -- the more efficient. The other piece of the populated than I would look I know people who don't like years but to look at the projections. The big appeal to the public how do we beat the health care system more efficient how do we reduce health records. How that we slowed growth optical. And the one thing that people don't -- it is affordable care about it. Has been much -- had actually had a positive effect. They had already slowed the growth helped. Build the dollar's been there's been you know maybe he would have been at least -- -- -- a lot that it happened the path. That's been a trend for a number of years now and we assume that that could continue. As a mark to market becomes reality around the country so. Obama it was meant to do to think it was supposed a couple of people with and -- it didn't happen in both political optical. And it seemed to be doable in and that's the good news thing but there's more to be done. Did -- help the system. Substantially more efficient. And you can -- a lot of money that we. From the government dignity here and it's he would work if it's another have a billion dollar you're a -- two -- -- billion dollars into the 500 -- yeah. And it eventually you have to start thinking about it it will be wondering how to how to raise taxes in it and then there is a good. Competition starting -- Because of tax expert which is an extremely small group of money to burn it never. But it's something that's happening on both sides don't remember. That Republican congressman. At peace camp of Michigan has just come out with a comprehensive tax plan which would make the tax system substantially more efficient. -- definitely taxes but. Indeed that is all it is ridiculous that the so much more efficient system but in the end you could use -- -- -- that it is that supposed to -- -- In a way that would hurt the economy that actually would make it. The more and more efficient. Bill -- Indians. There's a number of ways to slice the -- you can. Change parity and relief from the the heavy military spending the -- -- -- apoplectic here towards. For the domestic economic security Social Security here I don't see depiction of particularly infrastructure. And not being in there have to be conflicted group of people under what circumstances and hope to be one reason I haven't in the it is. Did put up a conversation at the -- Right at the federal level it's like oh we definitely taxes. At that stable global taxable -- When we just called from being cold -- people start being. Fees it pays to duplicate what I spent a we didn't have to do that that this could essentially government -- It didn't build people up except that the that something that cost more money than it happened it happened they would have to -- it and become really really sort of taught in an opt out system at the state and local level. But people -- willing to pay for thing. That they think that would be caught it and we know from all the certificates of security it's certification. In the game. Feeling well received when people -- -- it definitely statistically that little bit but the system can regain the and compete and accepted by -- definitely took etiquette that is a little bit but everybody can enjoy good health care system -- the old. All right and take our first break here if you just going to. Ripping -- about a number of articles the -- -- abortion approach that the players America's clash of generations is inevitable. The forum we're hearing the answer of that -- -- This is of Tokyo and you go the question you've got to come and it was called to -- wrote one so company. Told free anywhere in the country it's 6688. Dollar and zero heats up. It's amazing how many of these shows we've gone over the years world were read something here's hoping. Watch something. And and -- sure on that that accident than a week and next month. And I'd say eight out of -- and we find it's not true it's so poors case. Of the recent article. -- Washington Post an opponent -- at Rupp or others would bring the same thing. America's class -- generations is an inevitable. That's what the Hedlund says. Our expert Christian Weller senior fellows in -- or American progress. Who focuses on retirement in income securities. A true. Version of -- brood -- story. Dave Dave mentioned Detroit bankruptcy. And shouldn't do and that's lacking. Retired workers not getting the promise. And it says this is a basic conflicted and in other cities others say it's between. Paying all the charm and then of that supporting adequate service and -- police school parks sanitation. Satisfying. Retirees inevitably. Short treating -- their children and -- It. Well that's not necessarily inevitable depends a little bit on how the since the structure. Now between the particularly dire situation. Because the economic aid to the car industry has been decimated. Over the past decade so so that you respect that the -- parliament. Health -- at the end and -- -- -- accurately. Understand. This economy won't which is capacity did. The situation in most that it will -- more complex and you've got to him. In most places the city the police by the into any political -- it they -- It is assumed that -- come -- to depend on the policy that's played in the state. And that's what it would. -- has broken down -- cities in states didn't put that money him. Because they have a choice was the firefighters police and detectives -- -- between south between the money into the pension. So the question and then below it that fear that help people like world but he didn't live up to their prospects in now in the -- were particularly your retirement benefits. It in. The answer. In most cases that at least the state level that they're -- ways to adjusting. We -- -- and fear the most people. It is doable for the increase the contributions from both important but it. For the pension while people working. It just the benefit that would have all that -- in -- but it depends on foot boat stayed at the state level have done that. It's often don't have quite the flexibility that it it's hitting a woman Torre. You and ended -- with a -- that's what it's too late to make the adjustments. But it's talents most -- Simply. That helped the net but have nothing to do with the promises that were made. On they weren't too generous an -- it's simply help the ball as out of their control of the call nationally are rising at an overall inflation. And it neglected -- going to war and Kimberly too much. Particularly Norman. Quite -- the -- the cost of marketing department of optical -- you know what they're heavily. Optical drive -- put on quite. Difference between Portland and New York Chicago board or the Indians though it's drugs and drugs and the cost of the car. To point out. It in debt and again it is. They're important to understand that has given rise to a lot of the discussion about Obama. People can disagree whether it's -- but not. But it didn't work because we do seem to possibly help it. The growth of optical then it does need adult solution and that will be. And -- received -- two on those promises but it's important to understand. -- The public workers the -- the fire by the police and the warm. People about. The mark and the that out of the 10%. He ordered to secure pension we've -- -- -- drop in the what we now pinnacle that world you know what we need the money something else we just didn't look up top from. But from the government you just need to public work longer the -- -- won't let that. That was it. We have killed me it did its own money in it wasn't just that sort of like we did you give the people in the amount of money into the under the understanding that but it went by but by then -- but -- -- that couldn't implement them building that could when I was 35. And immediate path it is so -- didn't want to -- -- no -- -- to the board. At age 65. -- -- brilliant public -- losers. Comment Howard in Texas. -- -- jumpers from well. We hear. LaDainian young people. You talk about it they put in unity -- national health care deal that they got the papers they beaten more weeks sick and everything. Want it it's opposite the movement in young people involved in all kind of risky behavior. In a good -- to comport themselves. Alaska decide on -- Hurt themselves. Been watching normal cycle. -- you know trapped in -- -- lenient did not -- would do great things. The hospital. The person -- pain but not the real. And I think you know. That yet to be a kind -- it. College they beat it wounds. -- -- they would you call that trochmann. What some of these people. Become a college -- 40000 now what jacked up truck. In the recall -- playing for the future. Or -- lifted a comment from -- movie that interest. Well on the front side I think people -- -- tend to be generally quality indeed that somewhat -- of people that that would amount to. Enough to to make them less costly. More costly and open the people with some big it was and and the people -- type -- into -- chronic illnesses that they'll. That that's just the -- -- thought that that the with people understand that the health insurance that that that. People who can afford to pay into the system to the people who need it. Can -- on the system it's not like. We believe. That play different well. How it's weathered -- and you're the ones who have to pay it forward at them in -- and support him. And we're in this together and people understand that helped that. And I think a lot of people understand a repeat of the system get that everyone get a little -- When it -- its gonna be -- and other people that -- people understand the basics on the tour. That that. Most of the time you're paying for something you hopefully we'll never. And the I don't think that the stupid generational issue that this is not. That this sort of like he can't. One of the World -- hyped argument that the -- that people understand that the people capable there's certain things transport because. With something catastrophic but the slide. Will that help they didn't happen. I've campaigned for that myself. And to this morning and a large pool of people to help you out -- and as profit -- it will never happen but it does happen that a he's in an -- that sort of that and if it. Important argument that this is a generous support you have to also argue that people don't value and -- have to -- to -- People like -- understand why it's there it's important. Tradition of real pleasure to have -- -- appreciated the kind of rate. Sure -- break come right back -- talk to index Melbourne expert. And in pursuing probably. Poll last through four days and many many in the preceding week's. We do a show like this a number of news reports Americans clash of generations is inevitable. Get an expert -- says that role. Lance Ito we sixty minutes program. Talking about the loss of privacy. Expert we have on so many things they've reported were wrong. Is -- get sued to understand. Or to read the Euro or listen to oversee. Old whether or not you can trusts. Governor a bill brigades celebrity AM 05 the --