Friday, July 29, 2011

Fund raising- a partial solution to debt woes

I was just thinking about ways to reduce the national debt and the expenditures that we incur to pay for all of it. We are really good at raising funds for various occasion and charitable organizations from time to time and we have lot of billionaires who if persuaded can be really helpful in raising funds to reduce our national debt. We as a society are still stuck in the 1930s when all this welfare society came into being giving us Social Security and then later on Medicaid and Medicare. At the time it was fine since we were recovering from severe depression and everybody looked at the government to help them out. But now the situation has completely changed. We can no longer afford all these entitlements especially with borrowed money which we don’t have any clue to how to pay them back.

One of the solutions is to raise funds in different communities to fund your local community Medicaid and Medicare needs and also put social security in the hands of the states so that they can better handle the needs of their retirees. If we can only think outside of traditional methods of funding our retirement and senior population by localizing the whole idea of entitlement, we can at least put some dent into our national debt. Because everybody knows that Social Security and the entitlements are on shaky ground and they keep on increasing the age limit where you can collect Social Security. We really need to encourage people to find ways to put into retirement accounts and have a habit of saving.

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