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Only in government is attempting to reduce the rate of growth of a program considered a cut. Given the very low rate of inflation, the rate of growth of government programs has far outpaced it.With a rapidly aging population, there are no tax the rich schemes that are going to keep Medicare and Social Security solvent. Even in today’s watered-down public education system, it doesn't take Einstein to understand the meaning of this graph of the 10-year trend in Medicare spending.Medicare will run out of money in 2026, three years earlier than expected, government report saysThe Social Security Trust Fund Will Run Out of Money by 2035The Graying of America: More Older Adults Than Kids by 2035

China’s Success in Reducing PovertyChina was the first developing country in the world to achieve the poverty reduction target set by the Millennium Development Goals (MDGs) ahead of schedule, the target being to halve the proportion of people whose income is less than USD 1.25/day. Between 1990 and 2011, the poverty-stricken population in China decreased by 439 million people, from 689 million to 250 million1. Extreme poverty rates in Eastern Asia, aided by China’s progress, dropped 57% from 1990 to 20152.Despite these achievements, China still had approximately 55 million people living in poverty in 2015, according to the national poverty line (RMB 2300/USD 370 per year) (see ANNEX II). This was due primarily to the communities where these people resided being located in remote, often inaccessible and climate-sensitive areas, ones in dearth of basic infrastructure and social services.Confronted with the challenge of assisting these communities, the Chinese government committed themselves to eradicating extreme poverty by 2020, a commitment made explicit in their 13th Five-Year Plan (2016-2020). These efforts would coincide with the adoption of the Sustainable Development Goals (SDGs) by the United Nations Member States in 2015, one of the goals being the elimination of extreme poverty in all forms everywhere by 2030. China’s role in realizing this goal is essential.Adequate financing is crucial for sustainable development. Given China’s ambitions above, it is necessary to examine the mobilization and use of financing in China for purposes of poverty reduction. Various types of financing need to be leveraged and investments have to be managed effectively and efficiently to ensure they impact their intended targets. Properly implemented, this will allow China to generate and direct financing to more productive and strategic uses and obtain optimal results, hence steering financing for development in a more sustainable direction.Report on the Sustainable Financing for Poverty Alleviation in China has been jointly released by UNDP China and the Chinese Academy of Fiscal Sciences of the Ministry of Finance. This report represents the first systematic attempt at reviewing and mapping the current financial landscape for poverty alleviation in China, as well as assessing how effective such financing is. It also aims to provide useful insights and lessons on China’s poverty reduction initiatives from a financing perspective, with the hope of enlightening the international community on how financial resources can be mobilized to achieve development outcomes. Finally, the report intends to propose recommendations to help reinforce China’s financing efforts for poverty reduction in a sustainable way.China has made significant poverty reduction progress during the past three decades, and is currently working to eradicate extreme poverty by 2020 – as outlined in the government’s 13th Five-Year Plan (FYP). With this new target set, understanding the role of financial resources and mechanisms in achieving it has become increasingly important. While at the macroeconomic level the literature on China’s poverty reduction has shed light on how social-economic policies and institutions have contributed to positive development outcomes, research on how financing matters for poverty reduction remains scarce in China. This report attempts to address this knowledge gap by providing a preliminary analysis of the role, contribution and effectiveness of financing for poverty alleviation in China.Drawing from desk reviews and case studies, this report attempts to showcase China’s experience in demonstrating how poverty alleviation progress can be effectively financed by answering the following questions: 1. Who pays to reduce poverty in China and how has the financial architecture changed over time? 2. Through what mechanisms are financial resources channeled and are they effective? 3. What can be done to improve the financing outlook for China’s new phase of poverty reduction?Question 1: Financial resources and their role over time Domestic financial resources have played an increasingly important role in poverty reduction in China over the past three decades. Domestic financing is aimed at overall capacity building for the poor through sectorial investments in production (e.g. infrastructure, financial products) and public services (e.g. education), while international financing serves as a source of innovative financing mechanisms.Domestic financial resources are provided by a variety of stakeholders, including the government, businesses, financial institutions and civil society (e.g. individuals, NGOs). While the state plays a leading role in financing, non-state financiers have begun to share a considerable amount of the burden by supplementing state spending.Based on the individual functions that support poverty reduction, four types of financing have been identified in China: fiscal funds, industry funds, credit funds and social funds.Question 2: Financial mechanisms and their effectiveness  Broadly speaking, financing has transitioned from an assistance-oriented to a development-oriented approach in China, featuring a shift from a planned and free distribution of funds for relief to a paid and market-oriented fund allocation that focuses on capacity building for the poor.Financing is highly institutionalized to support the implementation of poverty reduction strategies. This enables resources to be secured from multiple sources, with fiscal fundsplaying a prominent role in leveraging the other types. As financing targets become narrower and more precise, innovative financing mechanisms are required to help deliver outcomes.Across the case studies used for this report, a variety of financing mechanisms were found that highlighted effective practices, such as incentive measures (e.g. bonuses for towns that fulfill poverty reduction tasks ahead of schedule), platforms (e.g. diverse assistance mechanisms) and risk prevention structures (e.g. guarantee models for credit finance). These kinds of practices have effectively engaged stakeholders, particularly private enterprises, in providing financing for key projects and industries that help with poverty reduction.Most of the case studies found that financing had contributed positively to poverty reduction outputs, including increases in household income, job creation and improvements in basic infrastructure. However, challenges still exist, particularly in the area of managing fiscal funds.Question 3: Financing prospects and policy recommendations  The prospects of financing in China concern the following: 1. The “Targeted Poverty Alleviation Strategy” proposed in the 13th FYP, which requires precision in targeting and directing financing to address the interlinked causes of poverty; 2. The on-going process of consolidated existing financial resources and organizing them to be more impactful; 3. Emerging trends, such as digitization, that encourage innovative financing mechanisms and ensure poverty reduction is inclusive and justly distributed.Given China’s experience in financing, the report recommends the following: 1. Adopting a participatory approach that enables the poor to be targeted using multiple criteria (e.g. perceived self-capacity to develop); 2. Using varied and innovative tools (e.g. Big Data) to research and produce reliable evidence for decision making (e.g. impact assessment); 3. Further decentralizing the management of financial resources to support tailor-made and context-specific solutions; 4. Developing strategies for further consolidating existing resources; 5. Improving coordination and communication between departments through the use of “Project IDs”.Sharing successful Chinese experiences and disseminating good practice worldwide can inspire and guide other developing nations on their way towards poverty eradicationThe International Day for the Eradication of Poverty, on 17 October, is a reminder to all of us that according to the latest estimates there are still more than 700 million people on this planet living in dire conditions on less than $1.90 a day.Although the world has made significant progress in reducing poverty, it is still with us and its eradication should be the first task of the international community. That is No. 1 goal of the 2030 Sustainable Development Agenda, which calls on all nations, regardless of their level of development, to take action to end poverty in all its forms and everywhere. The objective is set and action is now required.The creation of decent jobs and access to social protection are key tools to win the battle against poverty. Both are at the heart of the International Labour Organisation’s mandate. The ILO was founded almost a century ago, in 1919, in the wake of the First World War, to pursue a vision based on the premise that universal and lasting peace can only be established if it is based on social justice and decent work. On the eve of the ILO’s 100th anniversary, it is striking to note how relevant its mandate has remained over time.As a founding member, China was among the first countries to commit to the ILO’s mandate. Looking at the four most recent decades of China’s development, job creation and access to social protection have indeed been central to the reform and opening-up process, and in both areas the results have been impressive. The Chinese economy’s remarkable growth over that period has fuelled the creation of millions of jobs and the expansion of social protection.Although this development has brought with it many challenges, not least environmental sustainability and fast-growing inequalities, the impact on poverty reduction in China has been impressive.According to World Bank estimates, the absolute poverty ratio (defined at $1.90 a day in purchasing power parity) decreased from 66.6 per cent of the population in 1990 to less than 1 per cent in 2015. In total, more than 700 million Chinese people have been lifted out of poverty since the launch of reform and opening-up in 1978.But poverty has not been completely eradicated. In 2017, national statistics estimated that poverty still affects 30 million people living in rural areas. However, the government is well on track to achieve its objective of eradicating it by 2020, 10 years ahead of the deadline set by the Sustainable Development Agenda. No other country in the world has managed to improve the living conditions of so many over such a relatively short period.ILO-China co-operation on social protectionWhile many lessons can be learnt from the Chinese experience in poverty reduction, there is one that deserves particular attention: the development of China’s social security system. Forty years ago, social security and welfare benefits were provided by work units, covering only these formally employed by them, in a fragmented way.Today, China has a comprehensive social security system in line with its market-oriented economic reforms covering its 1.3 billion population. The ILO has been supporting and assisting this development since it established an office in the country in 1985.Starting in the early 1980s, China took measures to ensure that its social security system would be responsive to the transformation of the economy. In the 1990s, five social insurance schemes covering unemployment, pension, medical care, employment injury and maternity for urban employees were established and the minimum living guarantee programme (Dibao), a means-testing social assistance programme to support the poorest urban and rural residents, was put in place.During this time, the ILO worked closely with the Ministry of Labour and Social Security and together they created a national social security school in Beijing to build the capacity of social security officials across the country.Pensions have been an area of extensive co-operation between the Chinese government and the ILO. In the 1990s, when individual accounts were promoted worldwide, China resisted that trend and followed a different model in line with ILO recommendations.A collective funding of basic pension benefits was put in place through a pay-as-you-go system with individual accounts topping up basic benefits for employees. This dual model is still in place today. A decade later, at the request of the ministry, the ILO provided technical assistance on the design of the actuarial model for pension system for urban employees.Health insurance has been another area of co-operation. In the 1990s, the ILO’s assistance focused on the development of the first medical insurance regulation for urban employees.After 2000, China entered a new phase of social security development, in which healthcare benefits were made available to rural and non-working urban residents. Universal coverage was achieved within a few years. ILO expertise and standards were referenced in the drafting of the Social Insurance Law of 2010. Today, the ILO continues to provide assistance to the Ministry of Human Resources and Social Security on the reform of the health insurance payment system.China has progressively established a comprehensive social security system with quasi-universal coverage of health insurance and old-age benefits in record time. The ILO is pleased to have played a role in establishing China’s social security system, which reflects some of the key principles of its international conventions.Social security is an area in which constant reforms and adjustments are needed. Despite the enormous progress China has achieved, there are still many challenges to be tackled. Among them are the very low rate of effective coverage for rural migrant workers by earnings-related social security schemes and the very modest level of benefits under the pension system for rural and non-working urban residents, which does not guarantee adequate old-age income security.As the country’s population is getting old before getting affluent, the long-term financial sustainability of pension schemes is another priority that will have to be addressed. In the meantime, new challenges are emerging such as closing social security gaps for a growing number of workers in non-standard forms of work, including these generated by electronic labour platforms and apps.New areas of collaboration in a bid to end global povertyNo doubt in the years ahead, the ILO will continue to co-operate with the Chinese government and social partners to ensure that no one is left behind. But there is a new dimension to the ILO-China partnership. Sharing successful Chinese experiences and disseminating good practice worldwide can inspire and guide other developing nations on their way towards poverty eradication.South-South co-operation has become an important element of multilateralism in which the ILO’s experience and expertise has proved useful in building bridges between countries. Social protection, skills development, green jobs, youth entrepreneurship, and health and safety at work are some of the areas in which the ILO promotes cross-border exchanges and lessons learnt.But next year will be special. The ILO’s centenary should be more than a celebration of the past. It is a strategic opportunity to focus on people’s pressing priorities today－the need for jobs, social protection, income security, rights at work－and to forge solutions through dialogue.In today’s world, characterised by political uncertainty, growing inequalities, environmental challenges and rapid technological evolution, next year is a unique opportunity to find innovative ways to steer towards social justice and work based on human values: to make poverty history.

I'll update this as I go through itOverall Goal"This report looks at the federal government as if it were a business, with the goal of informing the debate about our nation’s financial situation and outlook." Proposes a path to "positive cash flow" [ed - not sure why this should be the explicit goal for a sovereign nation rather than simply reducing the debt/GDP ratio?]Four PrinciplesCreate a deep and widely held perception of the reality of the problem and the stakes involved;Reassure citizens that there are practical solutions;Develop support in key constituencies; andDetermine the right timing to deliver the solutions.Report SummaryProcedureNo policy recommendations, just analysis of the current situationAmericans are stakeholders in the country; we deserve reports from our 'managing team' similar to how publicly traded companies report their status quarterlyOverallThe fundamentals of the American economy are strongThe financials are troubling currently, especially due to "underfunded entitlements"Net worth is shrinking"Unfunded entitlement programs""Because some of the most underfunded programs are intended to help the poorest, the electorate must understand the full dimensions of the challenge" [ed - either some sort of call for social compassion or understanding that all will be asked to pay for the benefit of those in the worst circumstances? I'm not sure here]58% of our $3.5T expenditure stream goes towards "entitlement programs," while 40% of our $2.2T revenue stream is raised specifically for paying for those "entitlement programs"Unfunded liabilities: Social Security: $7.9T; Medicare: $22.8T; Medicaid $35.3T* [ed. - I don't see the justification for this, but this is just the summary right now]Defense outlays have doubled in the past decade, but this is not the primary cause of the US's financial dilemma35% of the population is on the government payroll or receiving "entitlement dollars," up from ~20% in 1966 [ed - the first year of medicare/medicaid, what do you expect?]High correlation of declining savings with rising entitlement incomeHealthcareFrom creation, Medicare/Medicaid has expanded, up to 35% of total healthcare spending; 16% of Americans, up from 2% in their first year [ed - 1965]Healthcare expenditures as part of the budget have increased 1.4% a decade over the past five decades [ed - fairly consistently]Employment-sponsored healthcare is slowly declining, 64% in 1999 to 58% in 2009Social SecurityChanges in underlying dynamics {worker:retiree ratio, average life expectancy) affect stability of Social SecurityPayroll taxes cover most of Social Security expenditures through to 1975-'81, when expenses began to increaseEntitlements and the Balance SheetFederal government spending has risen to 24% of GDP in 2010 up from an average of 3% during 1790 to 1930 [ed = both GDP and federal spending are unadjusted for inflation, so I'm not sure how that would change these numbers]Total government expenditures(+3.3x) have matched real GDP (+2.9x) fairly closely, while the expenditures subset of total government expenditures has increased much more rapidly (+10.6x)Public debt has doubled over the past 30 years, to 53% of GDPThese costs are driven by entitlement expenditure growth [ed - no mention of decrease in taxes as % of GDP during this time?]Interest rate decreases are the primary cause for a low cost of increasing debt to this pointEntitlement spending growth is relatively uncorrelated to GDP growth, while tax revenues are highly correlatedPersonal ConclusionsKey focus is obviously the so-called 'entitlements.' Let's see what the recommendations re: assumed cuts will be. It's clear to me already that this is a document with a very clear set of—not-unreasonable, but still present—biases.Mary and her team are obviously very competent, and I'm gonna enjoy reading through this one. This may very well be one of the most interesting and most ignored reports since Robert Moses's 1919 report on the reorganization of the NY state government... at least it's better than that "Rising Above the Gathering Storm" junk that was so popular on Capitol Hill back in '06.Outside Links on the Reporthttp://voices.washingtonpost.com/posttech/2011/02/mary_meekers_plan_to_turn_the.html