Social Security and Medicare Users Essay Example
Future Social Security and Medicare Users
The deficit in the U.S. federal budget is caused by the higher government expenses than the revenues collected for the year. Every year, the deficit in the budget increases the debts greatly as federal government gets loans to meet the deficit in the budget. A form of the loans got by government is the funds, got by social security trust funds and received as government account securities. Government deficits are not affected greatly by these loans as they are in the possession of government, but the baby boomers near their retirements might be affected. At their retirement, people requests for retirement incentives and other benefits that decreases the fund of social security.
The funds for older people and social security funds or disability insurance and the insurance trust fund of survivors are not included in the budget of government and obviously not taken as revenues. Department of Treasury is responsible for dealing with these funds under a different account and keeping record and monitoring the funds in and out flow of the funds account of the trust. Moreover, with monitoring funds, the trust also gives automatic disbursement and expending power to play incentive and other welfares to retire-employee (old age) recipients on monthly basis, their families, and to families of late insured employees” (Social Security, 2011).
Unemployed Individuals
Individual employees are affected by the U.S. deficits, surpluses, and debts. Employees are affected negatively from the deficits or if the government is operating in huge amounts of debts. Employees can lose their work in the result of deficit when government is going to cut their expenses, the employees can face difficulties in finding new work. Even there may be ups and downs in the employment levels in the era of surplus budget. There may be a problem that when there is a surplus, employees may spend extra causing the rapid change in situation and pushing
The deficit in the U.S. federal budget is caused by the higher government expenses than the revenues collected for the year. Every year, the deficit in the budget increases the debts greatly as federal government gets loans to meet the deficit in the budget. A form of the loans got by government is the funds, got by social security trust funds and received as government account securities. Government deficits are not affected greatly by these loans as they are in the possession of government, but the baby boomers near their retirements might be affected. At their retirement, people requests for retirement incentives and other benefits that decreases the fund of social security.
The funds for older people and social security funds or disability insurance and the insurance trust fund of survivors are not included in the budget of government and obviously not taken as revenues. Department of Treasury is responsible for dealing with these funds under a different account and keeping record and monitoring the funds in and out flow of the funds account of the trust. Moreover, with monitoring funds, the trust also gives automatic disbursement and expending power to play incentive and other welfares to retire-employee (old age) recipients on monthly basis, their families, and to families of late insured employees” (Social Security, 2011).
Unemployed Individuals
Individual employees are affected by the U.S. deficits, surpluses, and debts. Employees are affected negatively from the deficits or if the government is operating in huge amounts of debts. Employees can lose their work in the result of deficit when government is going to cut their expenses, the employees can face difficulties in finding new work. Even there may be ups and downs in the employment levels in the era of surplus budget. There may be a problem that when there is a surplus, employees may spend extra causing the rapid change in situation and pushing