Romina Boccia

Another credit rating agency has reduced its confidence in U.S. debt. Cato's Romina Boccia explains why it should spur greater interest in a fiscal commission that would stabilize the debt and protect politicians from some of the electoral fallout. Hosted on Acast. See acast.com/privacy for more information.

Romina Boccia, Director of Budget and Entitlement Policy at the Cato Institute, dives into the implications of the recent government shutdown. She highlights how the shutdown is used as political leverage, with the overlooked reality that federal workers are becoming collateral in negotiations. Boccia discusses the shocking scope of ACA subsidies benefiting high earners and the potential of $1.5 trillion in deficit spending. She also proposes long-term solutions like privatizing certain federal functions to tackle rising debt and inflation.

Romina Boccia, a budget and entitlement policy expert at the Cato Institute, dives into the myths surrounding Social Security. She explains that the Social Security Trust Fund is essentially a mirage filled with IOUs, rather than a real fund. Romina critiques how it operates like a Ponzi scheme, causing sustainability issues in light of a declining worker-to-beneficiary ratio. She also outlines urgent reforms needed to prevent fiscal crises that would burden future generations, while advocating for changes in benefit calculations to enhance equity.