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Politics : Politics for Pros- moderated

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To: carranza2 who wrote (252769)	6/2/2008 6:42:58 PM
From: rich evans	Read Replies (3) of 793888

Present value of future expenses or obligations is as you say a huge number. Only by growing the economy can we hope to meet these expenses if we continue the tax take at 19.5% of GDP where it has been for decades regardless of the tax rate. Actually the US is in better shape then Europe, Scandanavia , Japan. Chile changed their SS to a private system. Sweden changed their SS to a semi private system. Swiss adopted a mandatory catastopic private health insurance system with HSOs. So we can change these future expenses. As a lawyer , you know that the Supreme Court has ruled that SS is not a contract or noncancleable obligation and can be changed. Same with Medicare. If we can't afford medicare for over 65 , how can we afford universal health coverage? The states have not funded their health coverage for their employees and have kept these future unfunded expenses off their books. GAAP recently required corporations to put all these postretirement benefits on their books. Unfunded future expenses for most of us are huge if we are 50 as these would include $100,000 a year for 40 years say or $4 mill. Solution, leave it to congress to eventually change the system. Rich

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