It was the labor movement that helped secure so much of what we take for granted today. The 40-hour work week, the minimum wage, family leave, health insurance, Social Security, Medicare, retirement plans. The cornerstones of the middle-class security all bear the union label.
We know that Medicare is set to go bankrupt in 2024 with no action, and social security is set to be insolvent by 2037.
From the Medicare prescription drug plan to the creation of the Department of Homeland Security and the passage of No Child Left Behind, President Bush presided over a major expansion of the reach of government.
The fundamental flaw in Social Security and Medicare is that they violate the 'welfare principle' in economics. The welfare principle forms the fundamental basis of all charitable work in churches and other private organizations: assist those who need help, and equally important, don't assist individuals who can take care of themselves.
Today, Medicare provides health insurance to about 40 million seniors and disabled individuals each year. The number is only expected to grow as the baby boomers begin retiring.