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"Every year, the Trustees of Social Security and Medicare issue an annual report that examines the financial status of the various "trust funds" that purportedly sustain these vital programs. Social Security's (OASI) and (DI) Trust Funds, as well as Medicare's (HI) Trust Fund all face chronic problems, some in the not-too-distant future. In contrast, Medicare's (SMI) Trust Fund always receives a clean bill of health. Why is that?
"The answer is so simple it apparently escapes notice, but here it is, straight from the annual report:
"Part B of Supplemental Medical Insurance (SMI), which pays for doctors' bills and other outpatient expenses, and Part D, which pays for access to prescription drug coverage, are both projected to remain adequately financed into the indefinite future because current law automatically provides financing each year to meet the next year's expected costs.
In other words, it is sustainable -- INDEFINITELY -- because the government is committed to making the payments. Indefinitely.
"And, as we have argued many times on this site (and elsewhere), the same commitment can easily be made to sustain Social Security (OASDI) and Medicare (HI) in their current form. There is no economic justification for cuts to either program. The decision is entirely political.
"The American people must realize this before it is too late."
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Pass it on.
How about European entitlements ?
ReplyDeleteThey get subsidized by the Federal Reserve with open swap lines, and then receive 10 week vacations and a strong Euro dollar to boot.
What about some creative destruction here ?
Why not let the Euro fail like it should and we can pick up the pieces and buy all their broken assets ??
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ReplyDeleteThis article makes sense to the Physicist :
ReplyDeleteIf I create virtual photons, then I know I have created their own anti-particles as well so that the sum of energy is zero and conservation of energy is not violated.
Then I use said photons to shine light so people can see, grow plants, sustain themselves, and maintain asset creation and maintenance.
It is a looped generator - even if you print the checks, they come back in the form of assets and taxes.
Now which politicians think that the Department of Education is unconstitutional ? and why ?
because the Dept of Education is allocated with the Dept of Welfare
which republicans would love to dismantle.
ALL the current budget cuts for a measlely $30 billion is about dismantling things.
The foreclosure market was only $300 billion without the CDO default swapperoonies applied. That could have been mopped up with no problem.
So it's not the liar loan home buyer real estate agent mortgage buyer - it's the bank debt seller CDO designer distributor wall streeter bs.