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Politics : PRESIDENT GEORGE W. BUSH
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To: DizzyG who wrote (538081)2/10/2004 12:36:48 PM
From: DuckTapeSunroof  Read Replies (1) of 769669
 
If you use the same budget rules used by the Reagan Administration (ie, SS surplus is 'off-budget'), so you are comparing apples to apples when you look at today's budget vs. past budgets, then the CURRENT YEAR BUDGET is either right at the previous Reagan era budget deficit as a percent of GNP (around 6%), or it has already nosed slightly AHEAD of the Reagan era peak.

By the way --- the 'surplus' SS funds flowing into government coffers right now (a little north of $200 Billion annually) are much larger than they were during the Reagan era... because of the much larger working-age population, and because the more aged baby boomers are now in their peak earnings years.

So naturally, by tossing the SS surplus into a 'unified budget' (as is the Bushie practice) disguises even more of the structural deficit then it would have if Reagan had used the same trick.

It also ignores the effect upon the federal deficit that the up-coming demographic reversal (as Boomers move to draw upon their SS and Medicare benefits) will have.
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