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Boating All Out

In article ,
says...

On Sat, 09 Apr 2011 00:05:04 -0700, wrote:

And their "deficit" is temporary. For example, the primary reason for
the SS deficit is low unemployment, and that will change in the next
year or so, then it's solvent for another 30 years.

You have not been paying attention have you. The projection was always
that SS would be upside down in 2017, then 16 then 15 and the later
projections were 2012-13.
Then the recession made that 2010 they HOPED they might get a year or
two of surplus but the Obama payroll tax cut torpedoed that. It will
never see a surplus again. Medicare has been upside down for quite a
while with no end in sight.

SS isn't a big problem if correctly understood and addressed.
But Obama isn't helping at all.
Very bad move reducing the SS tax.
SS has its own cost/revenue stream for accounting purposes.
As the treasuries are redeemed when outflow exceeds inflow, the
SS fund will be depleted faster.
I've seen it said that when the fund is entirely depleted, SS can
still pay 75% of current benefits on SS income alone.
But that probably was based on fuller employment than current, and
certainly won't hold true at Obama's reduced SS tax rate.
Last projection I saw for SS fund zero balance was 2037.
Obama's action has knocked years off that.
This is no different than the dishonesty of the GWB tax cuts/deficit
spending or Reagan's voodoo economics.

Where are the adults?
A more cynical way of looking at these matters is that politicians know
exactly what they are doing.
Reagan and GWB figured that the population at large would accept the
rich becoming richer and the poor poorer.
GWB figured that deep debt would lead to curtailing safety net programs
as a means to deal with it.
Obama figures that nothing can hurt SS because to hurt it would be
fostering rebellion against those who attempt it.

If that's true I think they were all correct in their "figuring."
The real problem is the 2-party system.
Doesn't work any more.
Too much time spent with schoolyard feuds, and little common sense.

Paul Ryan is a good example of no common sense.
Wants to kill Medicare and replace it with vouchers to pay insurance
companies for health insurance.
Now I ask you.
What insurance company wants to insure old people?
What's the premium for a 70 year old?
$50k a year with a $20k deductable?
Man, this guy is in for some hurting when his "plan" gets analyzed.
He's a real dope millionaire.
I've already heard some economists are saying his plan will add to the
deficit too. Written by "The Club for Growth" supposedly.
All this whining from Ryan and his millionaire ilk about debt being bad
for "the grandchildren", but maybe they don't worry about their
grandchildren paying $50k insurance premiums when they become old folks?
The nonsense and hypocrisy I see is hilarious.
Like I say, where are the adults?