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Politics : Formerly About Advanced Micro Devices
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To: Steve Dietrich who wrote (466832)3/27/2009 1:18:00 PM
From: i-node  Read Replies (2) of 1575272
 
You're wrong.

The SS Trustees report says it's 100% solvent until 2042 and then, with no changes, could pay 75% of benefits for the rest of the 75 year projection period. With modest changes, it's 100% solvent throughout the 75 years.

Let's take a quote from the actual report:

The projected actuarial deficit in the OASDI Trust Fund over the infinite future is 3.2 percent of taxable payroll (1.1 percent of GDP), or $13.6 trillion in present value terms. The system could be brought into actuarial balance over this time horizon with an immediate increase in payroll tax revenues of 26 percent (from 12.4 percent to 15.6 percent) or an immediate reduction in benefits of 20 percent, or some combination of the two.

That pretty much tells the story. TODAY, just as I've said, there is an "actuarial deficit" (liability) of $13.6 Trillion.

To fix this problem you either need a 26% increase in the PR tax or to cut benefits by 20%, neither of which can be done at this time, so the result is that by the time it IS done, the tax increase/benefit cut must be much bigger.

So, I'm 100% correct and you, Al, and CJ are 100% wrong. We owe $13.6 Trillion that we don't have. Today.

I don't know how many times I have make idiots of you people before you just STFU and start listening.
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