Assignment: Multiyear Plans and Analysis
One conservative argument against Medicare and Social Securitystates that calling these programs "entitlement programs" is a misnomer and that they are actually the biggest income redistribution programs from the rich to the poor in the United States. Other conservatives state that stronger entitlement programs are nothing more than schemes for younger taxpayers to fund retirees. Proponents argue that Social Security benefits matter in the overall federal deficit reduction, and still others support privatization as the key to stabilizing the troubled system.
In a four to five page paper, address the following federal and state issues with entitlement programs:
- Are Social Security taxes a good investment?
- Evaluate the current funding process for Social Security and Medicare.
- In looking through the National budget entitlement programs such as Medicare and Medicaid represent the biggest threat to the U.S. budget deficit. What reforms do you suggest to help avoid an unsustainable increase to the debt?
- Do you think the federal government should increase spending on Social Security and Medicare for the elderly? If not, should the elderly fund retirement and medical costs?
- Do you believe government efforts to manage Social Security and Medicaid has made things worse or better? Provide research support for your position (in the summary of the paper).
- Discuss your recommendations to deal with the rising costs of Social Security and Medicare as well as the Welfare Reform Act of 1996.
Assignment Resources:
Your assignment must follow these formatting requirements:
Include an Abstract and Conclusion in the four to five page count. Your cover page containing the title of the assignment, the student's name, the professor's name, the course title, and the date and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
- Analyze the basic skills and tools needed for budgeting for public sector agencies and / or departments.
- Recommend appropriate policy actions based on the evaluation.
- Evaluate a budgeting system at any governmental level.
- Analyze the scope and sequence of budgeting in terms of sources of revenues, purpose of government expenditures, budget cycles, budget preparation, and debt administration.
- Examine the process and components of preparing a viable operating budget.
- Analyze the elements and principles of revenue estimating, forecasting, and adjusting budgets.
- Analyze the steps required for budgeting, such as preparing a budget, making a financial plan, conducting a cost-benefit analysis, and making budget decisions.
- Use technology and information resources to research issues in public budgeting and finance.
- Write clearly and concisely about public budgeting and finance using proper writing mechanics.