Posted by: arnegrim | July 27, 2010

Soaring deficits, spiraling benefits

“The Social Security system today faces a threat greater than the drive for partial privatization by George W. Bush.

“That’s not hyperbolic,” says Nancy Altman, codirector of Social Security Works, a group dedicated to preserving the system that provides income for 50 million retirees, the disabled, millions of children, and more. Her fear is that President Obama’s bipartisan National Commission on Fiscal Responsibility and Reform will recommend cuts in Social Security benefits as one means to reduce the burgeoning federal budget deficit”

http://news.yahoo.com/s/csm/314676

Privatization doesn’t look so bad now…

Especially in light of the fact that SS costs are expected to rise about 1% (of GDP) by 2030… and yet health-care costs (with the new fangled Obamacare) is expected to double to 10% (of GDP) by 2035…

so if they can’t afford a 1% increase in Social Security… how will they afford 5%?!?

https://arnegrim.wordpress.com/2010/07/26/reduce-health-care-costs-nope-they-never-claimed-it-would/

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Categories

%d bloggers like this: