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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: koan who wrote (128279)	12/2/2012 9:10:42 AM
From: RetiredNow	1 Recommendation Read Replies (1) \| Respond to of 149317

koan, SS is running $60B annual deficits and it's increasing as more Baby Boomers retire. The NPV of projected cashflows is in the trillions of dollars. I posted the SS Admin's own estimates, which were something like $7-9 trillion NEGATIVE NPV of cashflows. That's a big hole to fill. Just based on 2012 deficit projections, Obama would have to find a fix of $600B over the next 10 years. However, here's what is truly astounding. We have a $1.2 trillion annual deficit. To fix that, we have to find a combination of $12 trillion in tax hikes and spending cuts over the next 10 years. The largest amount either party has discussed is a plan approaching $1 trillion, or 8-9% of the total we need to be talking about. If we are being honest, we have to say that neither Obama nor the GOP is really seriously facing the problem we have. Discussing less than 1/10th of the problem is not a serious discussion.