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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: mishedlo who wrote (26005)	2/7/2005 11:58:54 PM
From: CalculatedRisk	Read Replies (1) of 110194

Mish, if we can't kill this ill conceived SS "reform", then we can't stop anything. I'm hoping this is DOA. If you look at the recent GAO report, they show SS with an actuarial problem of $3.7 Trillion over 75 years. But Medicare has a $27.8 Trillion actuarial problem (see page 50): gao.gov And the General Fund deficit is FAR worse. Today I pointed out that the budget is worse than forecast by CBO just last month: calculatedrisk.blogspot.com So why aren't we tackling the General Fund and Medicare issues first? What is wrong with Bush? Even Fiscal Conservatives think Bush is nuts. From today's WSJ: "this is not a serious budget if the objective is to reduce the deficit and constrain budget growth," said William Niskanen, chairman of the libertarian Cato Institute and a former Reagan administration economic adviser. online.wsj.com Amazing times ...

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