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Politics : PRESIDENT GEORGE W. BUSH
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To: Steve Dietrich who wrote (551511)3/13/2004 5:46:52 PM
From: Srexley  Read Replies (1) of 769670
 
"100% solvent until 2042 just like i said"

Read the paragraph below again. Is your definition of "100% solvent" the same as "and exhaustion of trust funds beginning in little more than two decades that will not permit full payment of currently scheduled benefits"

"The growing deficits will lead to rapidly mounting pressures on the Federal budget in a decade and exhaustion of trust funds beginning in little more than two decades that will not permit full payment of currently scheduled benefits. In the long run, these deficits are projected to grow at unsustainable rates"

Two decades is not 2042 in case you are curious. Your post shows (see below) that it will be completely INSOLVENT in 2042. Do you think it will be 100% solvent, and then completey insolvent in one day?

"The combined OASDI Trust Funds are projected to become insolvent in 2042 under the long-range intermediate assumptions"

Looks to me that payments will be reduced far before 2042 and will be completely insolvent in 2042 UNLESS

"the combined payroll tax rate could be increased immediately by 1.92 percentage points, benefits could be reduced immediately by 13 percent"

Which is exactly what I have been saying in principal (I did not give percentages). Keep in mind that you started posting to me (although you hate to debate me) when I questioned orcy's idea to LOWER payroll taxes. EXCACTLY THE OPPOSITE THING THE SOURCE YOU SIGHT SUGGESTS.

No wonder you don't like debating me. You look like a fool.
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