Don't Blame Me, I Voted For Kerry Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Don't Blame Me, I Voted For Kerry

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Bearcatbob who wrote (12622)	4/5/2004 10:36:35 PM
From: CalculatedRisk	Read Replies (1) of 81568

OT SS: In 2002, SS had a $145B surplus. Here is a table that shows this: ssa.gov This year (2004), the expected surplus is around $170B. Your comment "assuming the debts are paid" is the key. The annual surplus is expected in peak in 2017 and then start declining. I have not been able to find when the annual surplus turns into an annual deficit, but under current assumptions, the Trust Fund will be emptied in 2042 (or there about). Since the Government is using the SS surplus to fund general activities, when the annual SS surplus starts to decline (2017) will be the first crisis. In 2017, SS is projected to have a $300 Billion annual surplus! No problem, if the money is really for SS. When the annual SS surplus turns into an annual deficit (probably early 2030s) that will be the 2nd crisis. As we discussed before, the first step is to have an open and honest discussion about SS. SS is not in any immediate danger (except from the huge deficits under the current fiscal policy). I would like to see a discussion of the purpose for SS, and the structure of the tax code in general.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next