Alexander, Corker Say CBO Long-Term Deficit Report Reinforces Need For Entitlement Reform

Tuesday, September 17, 2013

Senators Lamar Alexander (R-Tn.) and Bob Corker (R-Tn.), sponsors of the Fiscal Sustainability Act, said the Congressional budget office’s Long-Term Budget Outlook released on Tuesday reinforces that entitlement spending is driving our nation’s debt to unsustainable levels. 

According to the non-partisan report, federal spending for the major health care programs and Social Security would increase to a total of 14 percent of gross domestic product by 2038, up from under 10 percent today. Total federal spending will grow rapidly as a percentage of GDP, reaching a record 26 percent in 2038.

“Runaway entitlement spending is going to leave young Americans forever known as the debt-paying generation if Congress and President Obama don’t fix the problem with a plan like the Fiscal Sustainability Act. We’ll have watched America pass from the hands of the ‘greatest generation’ to the ‘debt-paying generation’ with nothing to show for it but the bill,” said Senator Alexander.

“This report shows once again that entitlement spending is driving our nation’s debt to unsustainable levels and crowding out productive investments our country could be making in things like infrastructure, research and development, and national security.  As CBO notes, the typical Medicare beneficiary today receives about $200,000 more in benefits over their lifetime than they have paid into the Medicare system. Fixing this imbalance and others in Medicare and Social Security so they are strong and solvent, as Senator Alexander and I propose in the Fiscal Sustainability Act, is the only way to put our country on a sound fiscal path that will allow for continued growth and prosperity,” said Senator Corker.

In February, Senators Alexander and Corker introduced the Fiscal Sustainability Act, S. 11, to reduce the growth of entitlement spending (Medicare, Medicaid and Social Security) by nearly $1 trillion in the next decade in order to improve the programs’ solvency. The bill incorporates many of the recommendations made by President Obama’s Debt Commission (Simpson-Bowles) as well as by former Republican Senator Pete Domenici and Alice Rivlin, budget director for former President Clinton. 

Click here to view the CBO report.

Many Photos Of Fairyland Development Featured In New Hiener Photo Book

Many photos of the Fairyland development on Lookout Mountain are featured in the new historic photo book being published by Garnet and Frieda Carter carried out the fanciful development in the 1920s. It was during the construction that the game of miniature golf was invented when a golf ball was hit through a drain pipe at the job site. It was first called ... (click for more)

Lookout Mountain, Ga., Holds Hearing On Property Rate Issue; Compromise Sought On Short Term Vacation Rentals

All property in Walker County, Georgia was reassessed this year, including that in the Town of Lookout Mountain, Ga. where some increased in value, some decreased and others stayed the same. The city council encouraged the property owners with increased assessments to appeal the change. Not knowing if the property values, in the end, would be up or down, the council made a decision ... (click for more)

Bobby Stone, Is It Really A Win?

It brought a smile to my face this morning when I saw where the case was thrown out of court against Mr. Stone and the domestic violence charge.  I have supported his cause from the beginning, but I do feel heartbreak because his personal life had to be tossed out there for all of us to see.   I truly hope and pray things turn around for him and his wife, while I feel ... (click for more)

Roy Exum: Prayer Over Despair

As a strong proponent of early voting, I joined hundreds at the Hamilton County Election Commission headquarters on Amnicola Highway yesterday to exercise what I consider one of our greatest freedoms – “for the people, by the people.” Candidly, I have never been as upset or as disappointed over my choices for President in my life. Locally I am fine with our candidates but to pick ... (click for more)

Briarcrest Beats Baylor For D-II Volleyball Title

MURFREESBORO – The 2016 volleyball season didn’t end like the Baylor girls would have liked, but they have absolutely nothing to be ashamed of after getting beat by Briarcrest in the D-II Class AA state final here at MTSU’s Murphy Center Friday afternoon. The Lady Saints had beaten Baylor in a winners bracket final on Thursday and proved it was no fluke as they won in three straight ... (click for more)

Signal Mountain Advances To Class AA State Final

MURFREESBORO – Never accuse the Signal Mountain volleyball team of ever doing anything the easy way. The Lady Eagles, who entered the TSSAA state tournament here as a possible favorite to win the Class AA division, started off the tournament on the wrong foot Wednesday as they lost to defending champ Sullivan South in their first match. They staved off elimination with a 3-0 ... (click for more)