U.S. Chamber of Commerce’s Bruce Josten speaks on the urgent need for Entitlement Reform in front of the Chamber’s board members on June 19th, 2013.
The briefing discusses the overwhelming need to change the way governmental entitlement programs currently operate. Without change, Josten asserts that seniors will not be able to receive the benefits they have earned. Furthermore, there will not be any funding left to improve schools, defend our country or repair roadways.
Main Reasons Why Josten is Calling For Reform:
- Because people are living longer lives
- Changing demographics – Americans have been having fewer children. Therefore, not as many people are contributing to entitlement programs.
- Most Americans are not prepared to live without entitlement programs (according to public opinion polls)
- These programs are already a main driver of U.S. deficits
- Not a single major issue with entitlement programs is expected to be solved in the next 20 years
Governmental entitlement programs are a cornerstone to the American way of life. The goal of Josten’s speech is to increase awareness of the challenges that entitlement programs are currently facing, and to facilitate further discussion in order to fix those programs.
Who Is R. Bruce Josten?
R. Bruce Josten is a graduate from Harvard University. He began his political career in 1974 as a telemarketer for the U.S Chamber of Commerce. He then became their chief lobbyist in 1994, and led a coalition which led to a balance in the U.S. budget in 1996.
Eventually, he became Executive Vice President for Government Affairs in the U.S. Chamber of Commerce, and held that position until his retirement in 2016. Josten was the point man for business interests and participated in tax, trade and energy negotiations throughout his career.
Following his retirement in 2016, he is famously quoted in the New York Times as saying that, “Washington has become an ‘I win, you lose’ town rather than a ‘how do we get this done’ town… I actually do miss the smoke-filled rooms of yesteryear…Because you got a lot done.”
Furthermore, Josten had attempted three times throughout his career to reform Social Security to no avail.
Richard has been conducting research on Retirement Insurance for more than 20 years. He received his Master of Accountancy (MAcc) in 1998 and is a licensed Certified Public Accountant (CPA). In the aftermath of the 2008 financial crisis, Richard found himself surrounded by friends and family who were concerned about their retirement and how they would be able to afford a comfortable life during their golden years.