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Politics : Don't Blame Me, I Voted For Kerry -- Ignore unavailable to you. Want to Upgrade?

To: Bearcatbob who wrote (12622)4/5/2004 10:36:35 PM
From: CalculatedRiskRead Replies (1) | Respond to of 81568
 
OT SS: In 2002, SS had a $145B surplus. Here is a table that shows this:

ssa.gov

This year (2004), the expected surplus is around $170B.

Your comment "assuming the debts are paid" is the key. The annual surplus is expected in peak in 2017 and then start declining. I have not been able to find when the annual surplus turns into an annual deficit, but under current assumptions, the Trust Fund will be emptied in 2042 (or there about).

Since the Government is using the SS surplus to fund general activities, when the annual SS surplus starts to decline (2017) will be the first crisis. In 2017, SS is projected to have a $300 Billion annual surplus! No problem, if the money is really for SS.

When the annual SS surplus turns into an annual deficit (probably early 2030s) that will be the 2nd crisis.

As we discussed before, the first step is to have an open and honest discussion about SS. SS is not in any immediate danger (except from the huge deficits under the current fiscal policy). I would like to see a discussion of the purpose for SS, and the structure of the tax code in general.



To: Bearcatbob who wrote (12622)4/5/2004 10:41:51 PM
From: Steve DietrichRead Replies (1) | Respond to of 81568
 
I think we agree almost entirely.

Now will you concede that when Republicans claim there's a SS crisis they're engaging in the sort of demagoguery you usually denounce?

Steve Dietrich



To: Bearcatbob who wrote (12622)4/5/2004 11:07:26 PM
From: American SpiritRespond to of 81568
 
Social Security is not a freebie. Clinton did away with the old welfare. The old argument against hand-outs is totally obsolete. These days if you're homeless there is nowhere to sleep or eat at government expense unless you're a vet.


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