Independent Seniors Hit With Federal Budget CutsHealthcare Training Resource
November 20, 2013 — 1,122 views
Senior citizens will be hit quite hard due to the budget cuts this year. In an attempt to manage the huge fiscal deficit, the government has cut down on $80 billion in expenditure. This means that the ropes will soon tighten on many services that were earlier provided to aid people. Senior citizens who wish to avoid old-age homes will have many difficulties.
Difficulties in Managing Cost of Living Without a Stable Source of Income
Regular check-ups and daily cost of living are hard to manage on a retirement pension. Without a stable income and government support, many elderly people will now be forced to move out of their independent homes. Previously, funds would be provided by the government to enable various non-profit organizations that look into such matters. With the absence of these funds, such organizations may not be able to raise sufficient money for many people.
Apart from simple transportation costs that enable aged people to visit doctors regularly, senior citizens will also have to manage various other health care facility costs without any benefits to avail of. This may force a number of elderly people to give up independent living.
NPOs will Have to Find Different Sources of Funding
NPOs will now have to depend solely on individual donations and crowd-funding to muster up the kind of money that was earlier coming in. With the economic slump and the instability of jobs, people may not be willing to spare large amounts of money for such causes. This makes it even harder for these non-profits to gather funds, implying that thousands of elderly locals will be affected directly by the budget cuts.
Budget Cuts to Affect Most Sectors of the Economy
Economic models state that spending leads to further growth and development of any economy. Without a consistent cash flow into the system, many sectors will be negatively affected. However, the massive deficit makes it impossible for the government to continue spending in the same way. It is not only the non-profits and people that they tend to that will suffer greatly.
In fact, most industries and services will also bear the brunt of the budget cuts. The purpose of government support is to prevent instability and inequality. Without enough money flowing through different sectors of the economy, this is not possible. Experts are still trying to devise new strategies by which the crisis can be resolved.