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The Almighty
He got it from Mother Jones. The far left wingnut site he gets most of his talking points from.
Social Security is Not a Ponzi Scheme, Mr. Perry (It's worse)
- Thread starter cawacko
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He got it from Mother Jones. The far left wingnut site he gets most of his talking points from.
That report was prepared to prep the ground for Bush's social security privatization scheme.
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The Almighty
Do show us where in the report they got the data for that chart....
http://www.ssa.gov/oact/trsum/index.html
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The Almighty
So a report from the Social Security Admin is trumped by a chart from Mother Jones who supposedly got their info from the Social Security Admin?
It's a chart excerpted from the Social Security Trustees report, not a Mother Jones chart.
No, the Bush Social Security Trustees report has a similar chart (Figure II.D.5) which lacks the revenue figure (an intentional omission). The report itself and the spin on the report was prepared with a particular policy goal in mind. I'm simply looking at the data.
Link to the actual report and I will. It's figure II.D5.
Edit: Here:
http://www.ssa.gov/oact/tr/2011/tr2011.pdf
Page 14.
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The Almighty
Yeah... no worries here.... just bury your head in the sand and chant with Dung 'Obama will save us, Obama will save us'
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The Almighty
The link I provided links to the exact same report you just linked to douche bag. Both are directly from the SSA.gov website. You just linked to the pdf rather than the web based version you douche bag.
Bottom line is this.... they project the funds to be depleted by 2036. It states that clearly on BOTH links.
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No, you linked to a summary. I linked to the report from which the chart was taken.
The 75-year shortfall is 0.7% of GDP. There is little to worry about.
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The Almighty
I stand corrected on that point... the first pages of your report were the summary.... that said, you are still a douche bag.
Your chart (and I am being generous here) shows a deficit of 1% of GDP (it is actually higher). For a $14 TRILLION dollar economy, what is that deficit per year?
Because once you don't have the support of rich old folks, and you wouldn't if they were means-tested out, the political opposition to major SS policy changes would no longer be there.
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The Almighty
WHAT IS THE DOLLAR AMOUNT PER YEAR THAT IS CURRENTLY UNFUNDED MR. 'HEAD IN THE SAND'?
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The Almighty
E. CONCLUSION
Under current law, the cost of Social Security will generally increase faster
than the program’s income because of the aging of the baby-boom generation,
continuing low fertility compared to the baby-boom period, and
increasing life expectancy. Based on the Trustees’ best estimate, program
cost will exceed non-interest income in 2011, as it did in 2010, and remain
higher throughout the remainder of the 75-year projection period. Social
Security’s combined trust funds are projected to increase with the help of
interest income through 2022 and allow full payment of scheduled benefits
on a timely basis until the trust funds become exhausted in 2036. At that
time, annual non-interest income to the trust funds is projected to equal about
77 percent of program cost. By 2085, annual non-interest income is projected
to be about 74 percent as large as the annual cost of the OASDI program.
THe only reason SS would not be intact in 25 years is if it is privatized. And your best case scenario is worse than the worst case scenario.
Yes, but you aren't factoring in the 25 years of trust fund payments. The chart merely compares payroll taxes to benefits. If you factor in the trust fund, the fuding gap as a percentage of GDP is 0.7%.