In all the rhetoric coming from the White House about the Path to Prosperity's proposal to preserve Medicare for future generations, the President and his advisors ignore a simple truth: their prescription for Medicare and Social Security would end the programs forever.
Both programs are on a path of self destruction. While Jack and House Republicans have put forth a plan to save the programs, the White House and Democrats in Congress are attacking them in favor of the status quo.
Any doubts about the perilous situation these two safety-net programs face should be put to rest with the report issued today by the Social Security and Medicare Board of Trustees which paints an even bleaker outlook than before.
According to the report, the Medicare trust fund will go bankrupt in 2024 -- five years earlier than last year's estimate. Social Security would exhaust its trust fund a year earlier than previously expected in 2036. Social Security's disability program, SSI, is slated to run out of money in 2018.
By endorsing the status quo, the President is endorsing destroying these programs. If he were serious about saving them, he would put aside partisan attacks and put forward his own proposal to provide for their future.