What are contributory insurance programs

Reference no: EM133634148

What are Contributory Insurance Programs, and how do social security and Medicare work? Who are eligible - "the retirement age" - for social security and Medicare, and how does the federal government secure funds for those programs (social security tax rate and Medicare tax rate)? What's the often-cited, most serious problem America's social security will face in the near future? Watch Ten Trillions and Counting and read MSSD, Ch. 17 (pp. 394-399) and address the questions below: b. What is Mandatory Spending and what is Discretionary Spending, and spending on what items/programs do they include? US debt stands as of now at around $34 trillion (see the link below, "US Debt Clock"). What policies (specific programs) under Presidents George W. Bush and Barack Obama gave rise to the ballooning budget deficits and soaring government debt?

Reference no: EM133634148

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