National Debt

Irreponsibility of White House Press releases and Others(Public and Private) have fanned radical presentation of Statistics. A good example:


The Outer Limits of National Debt
By ANNA BERNASEK Published: May 1, 2005
http://www.nytimes.com/2005/05/01/business/yourmoney/01view.html

According to government figures, to make the Social Security trust fund big enough to cover its obligations, we'd have to pay in an additional $4 trillion or so today. And that's only for the next 75 years. To put Social Security on a sound basis indefinitely, significantly larger sums are needed.

What a Crock!!

The initial thing which must be said states there would be little of a Government Deficit today, if the Tax laws of the last Administration were in force at present. The accumulated Debt since George W. Bush took office would not exist. It also must be conceded this excessive Government spending actually did not fuel the Economy significantly. Exterior forces have driven the Economy since the last Recession. Tax Reform would eliminate this deficit Spending.

The second element, here, remains the Concept that all these unfunded obligations have to have some present preempt Funding. The $4 trillion outlay for Social Security serves no better than a 2% tax increase in FICA in 2015. A 10% Co-Payment system for Medicare benefits would so significantly lower Patient Demand for Services, lower Medical Costs due to restriction of Access, and pay to the point that the $21 trillion liability would not exist.

The final point made the Statement: And that's only for the next 75 years. To put Social Security on a sound basis indefinitely, significantly larger sums are needed . The Article makes a like statement about Medicare and Medicaid. The Critical Period lies between the Retirement and Death of the Baby-Boomer Generation. The Condition of the Social Security system, and the Medicare system, will improve after this Period. The great Crisis should be over by 2040 at the maximum. lgl