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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Steve Dietrich who wrote (551462)	3/13/2004 3:51:08 PM
From: Srexley	Respond to of 769670

"You consider the SS Trustee Report an unbacked source?" No, now that I have read it I see that it proves that you are an absolute liar. Good thing I checked on your empty promise of the SS fund being fine until 2042. How you can call me dumb when you can't even understand the report that you sight as back up is amazing. You are an absolute idiot, and I believe liar. Here is the report the BACKS WHAT I SAID AND CONTRDICTS WHAT YOU SAID. This report was updated on 2-24-04, and the 2nd paragraph is VERY IMPORTANT. Please read it slowly so you have an outside chance of understanding what it says. <Each year the Trustees of the Social Security and Medicare trust funds report on the current status and projected condition of the funds over the next 75 years. This message summarizes the 2003 Annual Reports. The fundamentals of the financial status of Social Security and Medicare under the intermediate economic and demographic assumptions remain highly problematic. Although both programs are currently running annual surpluses, these will give way to rapidly rising annual deficits soon after the baby-boom generation begins to retire in about 2010. The growing deficits will lead to rapidly mounting pressures on the Federal budget in a decade and exhaustion of trust funds beginning in little more than two decades that will not permit full payment of currently scheduled benefits. In the long run, these deficits are projected to grow at unsustainable rates. Social Security The annual cost of Social Security benefits represents 4.4 percent of gross domestic product (GDP) today and is projected to rise to 7.0 percent of GDP in 2077. The projected 75-year actuarial deficit in the combined Old-Age and Survivors Insurance (OASI) and Disability Insurance (DI) Trust Funds is 1.92 percent of taxable payroll, up from 1.87 percent in last year's report due primarily to the growing annual financial gap at the end of the valuation period. Thus, the program continues to fail our test of financial balance by a wide margin. Projected OASDI tax income will begin to fall short of outlays in 2018 and will be sufficient to finance only 73 percent of scheduled annual benefits by 2042, when the combined OASDI trust fund is projected to be exhausted. Social Security could be brought into actuarial balance over the next 75 years in various ways, including an immediate increase in scheduled program revenues of 15 percent or an immediate reduction in benefits of 13 percent (or some combination of the two). To the extent that changes are delayed or phased in gradually, greater adjustments in scheduled benefits and revenues would be required. Ensuring the sustainability of the system beyond 2077 would require even larger changes.>