President Obama was met by second-guessing when he announced earlier this year that he wanted to reform entitlement programs. After all, President Bush pushed hard for reform and got nowhere in Congress, including with his own party. And doesn't Obama have enough on his plate already?
But a report this week by the Social Security and Medicare Board of Trustees showed why reforms are needed now. It warned that, because of the recession, Social Security and Medicare could be insolvent by 2037 and 2017, respectively. And Social Security Commissioner Michael Astrue noted, "The sooner we get on with the task of reforming the system, the easier it will be to make the tough choices."
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