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The troubling financial situation of Social Security and Medicare represented a "slow catastrophe," Fox News contributor Charles Hurt said Tuesday.
"The fact is that they will become insolvent and something must be done," Hurt said in a "Special Report."
His comments came in the light of a report in which directors warned that programs were leading to insolvency.
By 2020, according to the report, the total costs of social security will exceed its total income for the first time in nearly forty years and in seven years the trust fund for Medicare hospitals will be exhausted.
More progressive lawmakers, including Sen. Bernie Sanders, I-Vt., Have proposed expanding Medicare to create a single-payer health system. According to Hurt, this would only make matters worse by centralizing more power in the hands of bureaucrats.
THE MEDICARE CHIEF SAYS & # 39; MEDICARE-FOR-ALL & # 39; IS "THE GREATEST THREAT TO THE AMERICAN HEALTH SYSTEM"
"Unfortunately, the idea of" Medicare for All "- in addition to the problems we are currently facing – is kind of a typical government response: more centralized governance in Washington.That's all the problem at the base "m said.
"Massively," expanding Medicare, he added, would not repair the program. "It'll break it," he says.
Jonah Goldberg, editor of National Review, argued that, although President Trump's administration ignored the bleak future of Medicare and Social Security, Democrats have proposed policies that would worsen the situation.
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"We have a massive wealth transfer from young people to the elderly," Goldberg said. "This is not sustainable, it must be torn off the ground."
Although Hurt acknowledged the situation was bad, he also predicted that the country's poor economic situation would make it easier for the government to reform these expensive programs. "It will be much easier to repair these programs with a good economy like the one we have now," he said.
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