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Originally Posted by White Rabbit
These are the only kind of authorative sources - Congressional Budget office (CBO) or the SS Trust Fund for this topic.
And, suprise, surprise, I got the 2042 number from the same source and loe and behold, your link states the same number as 2041 - the year, under present projections of revenues and expenses, that Social Security is presently fully funded until.,,,
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Yes. Look at that. You got the same number as the article in the OP with which you take so much issue, give or take a year. You dismiss the US Treasury as source that is not credible; post a report from 2004; argue that your source is accurate; when in fact, all the reports, regardless of who posted them, predict the same thing.
Quote:
Originally Posted by White Rabbit
.... That's the point I made and that point has been confirmed by all reputable reports upon the topic....
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The point you made is the same point that the article in the OP states, and the same point that subsequent sources supplied in the thread made.
Quote:
Originally Posted by White Rabbit
.... So, now that we two are at least agreed on the core number here, what is it that you would like to discuss about it?...
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Now that we have agreed? The only one who has been arguing the numbers in the OP has been you. Read the OP - same numbers.
Quote:
Originally Posted by White Rabbit
.... The easiest way to head-off any future funding shortfall would be to double the US immigration intake (doesn't really matter if they are the US-preferred illegal variety or the quite rare 'legal' immigrant variety).
A combination of small and incremental increases in the Social Security payroll tax phased in over the next 10-20 years in combination with a steady stream of immigrants should essentially address this funding shortfall. If the US does nothing about SS, the program will run as it is until 2041, not 2017 as some others like to pretend....
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I suggest you inspect the article in the OP and rethink who actually said anything to the contrary.
Quote:
Originally Posted by White Rabbit
....The really serious issue, in my opinion, is Medicare. That is where the USA is looking at a huge funding shortfall in the short to near term horizon. I don't see any simple solution to this problem - the tax increases needed to sustain this program over the next 10-20 years is substantial and unpalatable.
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That could be one solution. Although politically expedient and safe, it is not a wise long-term solution, IMO.