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Politics : Formerly About Advanced Micro Devices
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To: i-node who wrote (613869)5/31/2011 1:16:16 PM
From: Alighieri  Read Replies (1) of 1578629
 
Paul Ryan has come up with at least a proposal to fundamentally change Medicare.

Yeah...he's destroying...republicans are very good at destroying things...i can't think of a single republican initiative other than tax cuts.

You were trying to argue that the unfunded liability is not a liability because Congress could simply vote away Medicare. Now, you are apparently on to another subject.

That was intended to make you see the absurdity of your interpretation...i thought I needed to hand hold you through the discussion..your response seems to prove me right.

The unfunded liability is the amount of money you'd have to deposit today, given the projected earnings rates, to have enough money fulfill an established commitment. NOT the amount you need 50 years from now. The amount you need today.


What you are describing is the present value of the unfunded liability. The actual unfunded liability is the aggregate difference over a period of time between the cost of benefits promised beneficiaries and the benefit funds that will be collected in the form of taxes and revenues over that same period of time, given projected revenue rates, benefit structure and demographics....the problem with that is that these liabilities change if the programs they result from also change, in terms of revenues collected, costs accrued and benefits provided.
Unfortunately those liabilities are what they are because because republicans have made it a goal of starving these programs of funds...newt has used the phrase "let medicare whither on the vine"...reagan has railed against it but for different reasons...he's the father of mediscare, to use your term.

Al
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