
“The new long-term budget projections from the Congressional Budget Office (CBO) show once again that the major problem facing the both the budget and the larger economy is out-of-control health care costs, not any inherent fiscal crisis. As was the case last year, the CBO baseline shows that the long-term debt to GDP ratio levels off in the baseline scenario. In the 2011 projections, the ratio of debt to GDP actually begins to decline after the early 2040s. The graph shows the sharp drop in future deficit projections following the passage of the Patient Protection and Affordable Care Act (PPACA) in March of 2010.
“As CBO has pointed out, the baseline projection may be unrealistic since it includes a number of assumptions about policy, such as Congress adhering to the spending caps put into law in the PPACA last year. While no one can know what future Congresses will do, the CBO baseline does show clearly that if health care costs are constrained, as they would be if Congress does not change the law, then there is no real long-term deficit problem. Even with the aging of the population raising the cost of both Social Security and Medicare, the debt to GDP ratio would be on a declining path.
“It is also worth noting that the CBO has clearly indicated that the public sector offers the more promising route for containing health care costs. Its projections of the Medicare voucher plan proposed by Representative Ryan and approved by the House of Representatives show that the plan would raise the cost of providing Medicare-equivalent plans by $34 trillion over the program’s 75-year planning period.
“It is unfortunate that most of the policy community insists on focusing on the deficit and ignoring the fact that the health care system is both the country’s major long-term fiscal problem and economic problem. This is the same sort of momentous mistake as was ignoring the $8 trillion housing bubble that caused the recession as it grew to ever more dangerous levels.”
We’re not backing down in the face of Trump’s threats.
As Donald Trump is inaugurated a second time, independent media organizations are faced with urgent mandates: Tell the truth more loudly than ever before. Do that work even as our standard modes of distribution (such as social media platforms) are being manipulated and curtailed by forces of fascist repression and ruthless capitalism. Do that work even as journalism and journalists face targeted attacks, including from the government itself. And do that work in community, never forgetting that we’re not shouting into a faceless void – we’re reaching out to real people amid a life-threatening political climate.
Our task is formidable, and it requires us to ground ourselves in our principles, remind ourselves of our utility, dig in and commit.
As a dizzying number of corporate news organizations – either through need or greed – rush to implement new ways to further monetize their content, and others acquiesce to Trump’s wishes, now is a time for movement media-makers to double down on community-first models.
At Truthout, we are reaffirming our commitments on this front: We won’t run ads or have a paywall because we believe that everyone should have access to information, and that access should exist without barriers and free of distractions from craven corporate interests. We recognize the implications for democracy when information-seekers click a link only to find the article trapped behind a paywall or buried on a page with dozens of invasive ads. The laws of capitalism dictate an unending increase in monetization, and much of the media simply follows those laws. Truthout and many of our peers are dedicating ourselves to following other paths – a commitment which feels vital in a moment when corporations are evermore overtly embedded in government.
Over 80 percent of Truthout‘s funding comes from small individual donations from our community of readers, and the remaining 20 percent comes from a handful of social justice-oriented foundations. Over a third of our total budget is supported by recurring monthly donors, many of whom give because they want to help us keep Truthout barrier-free for everyone.
You can help by giving today. Whether you can make a small monthly donation or a larger gift, Truthout only works with your support.