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Politics : Sioux Nation -- Ignore unavailable to you. Want to Upgrade?

To: DavesM who wrote (16331)	5/9/2005 9:54:09 PM
From: CalculatedRisk	Read Replies (1) \| Respond to of 361283

The "shortfall" for SS is estimated at 1.2% of GDP over the next 75 years. Considering Bush is running deficits significantly larger than that right now, what is the most important issue? Obviously not SS! Warren Buffett addressed this last week: BUFFETT: Well, it's an interesting idea that a deficit of $100 billion a year, something, 20 years out, seems to terrify the administration. But the $400 plus billion dollars deficit currently does nothing but draw yawns. I mean the idea that this terrible specter looms over us 20 years out which is a small fraction of the deficit we happily run now seems kind of interesting to me. And Buffett understates the deficit by using the "unified budget deficit". The General Fund deficit is closer to $650 billion over the last 12 months. If you want to fix SS, fix the General Fund deficit first. Otherwise we are wasting our time.