Day of conversion
By now, anyone who doesn’t know the world of TV broadcasting is supposed to change on Feb. 17 has either been in Iraq or sleeping like Rip Van Winkle. Yet it still seems to come as a surprise to some that the federal government long ago designated 02/17/09 as the day of “conversion.” That’s the date when analog TV signals are to be replaced by digital signals. Those with no satellite or cable hookup will either need a television with a digital tuner or a converter box, available at a greatly reduced price with a coupon courtesy of Uncle Sam. Ah, but those coupons are in short supply and no less a luminary than Barack Obama is worried. He wants the day of conversion postponed. If not Feb. 17, when? Other politicians are concerned that antennas will also need replacing and the government should help with that, too. Since TV viewing is being treated as a human right, why not have FCC employees go door to door like Census Bureau workers and deliver and install new digital TVs, outdoor antennas and recliners with built-in cup holders?
Talking about real money
If you think the current national debt of $10.7 trillion and rising is high, consider that Uncle Sam would be on the hook for $52 trillion if Medicare and Social Security programs were stopped tomorrow, resulting in no more payroll taxes and no further accrual of benefits. The National Center for Policy Analysis points out that the $52 trillion is in current U.S. dollars, not the amount that would be required to pay future benefits. Of course no one’s talking about stopping these programs, but an estimated $9.5 trillion is owed to current retirees, the NCPA says. Factoring in the amount to be owed to those nearing retirement and the tab swells to $20.6 trillion. By 2030, almost half of all income tax dollars will be needed to close a funding gap projected for Social Security and Medicaid. “The longer we postpone reform,” says Andrew Rettenmaier, an NCPA analyst, “the worse the financial picture becomes. Procrastinating will make the cost of reform even more painful.” Are you listening, Barack Obama?
