My Photo
Blog powered by Typepad

April 2020

Sun Mon Tue Wed Thu Fri Sat
      1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30    

« The South Park message: Anti-Mormon bigots, grow up | Main | $4.5 trillion of new debt over these 4 years »

February 20, 2012



Unbelievable. The Obummer claim that costs are only going up to 5.5% of GDP assumes that cuts will be made -- and those cuts will be draconian. However, nobody is willing to even take a tiny step toward those cuts today -- especially our spender-in-chief.

Sachs is obviously no actuary. Even if costs stayed flat (on a per capita basis), the demographics would run the total costs way up.

There is always some idiot who says black is white and white is black. Obummer has an administration full of these knuckleheads.

Frank Warner

The nonpartisan Pete Peterson Foundation also is alarmed by the president's budget, which has 10 years of projections. The Peterson people say that, using the president's assumptions, the budget gets much worse over the following 15 years.

The Peterson Foundation insist all budgets from now on should show us a budget's ramifications over 25 years, at least. The problem is that 10 years from now, many more Baby Boomers will be retiring, and they'll have few workers to tap to pay for their Social Security and Medicare.


Timothy Geithner pointed out in the Administrations 2012 budget request that with the increase taxes and minor slowing of growth of spending, the budget deficit would shrink to 3% over the next 10 years. After that it explodes, based almost entirely on expenses incurred by a retiring "Baby Boom."

Frank Warner

I guess (sarcasm) no one was aware the Baby Boomers would retire about this time.

I'm still wondering about Medicare. If it spends 3.2 percent of the economy and has dedicated income amounting to only 1.4 percent of the economy, what do its books look like? More than half its money comes from outside the Medicare "system"? Why don't its trustees speak up?


For the fourth year in a row, president defies law that demands action on Medicare

Frank Warner

Wow, so this wasn't my imagination. Medicare is in real deep doodoo, and the president, by law, is supposed to show how to reform the system so its income covers more than half of its expenses.

Here's an idea: How about requiring that the president and Congress reform the system to cover 100 percent of its expenses, or the president and Congress must resign immediately without pensions?


That sounds like a Tea party movement idea. So, of course, the president and Congress will never ever make anything law that resembles something from that "vile" movement of fiscal and personal responsibility.


An $8 billion trick? Toying with Medicare to fix elex


G.A.O. Calls Test Project by Medicare Costly Waste


Medicare Faces Unfunded Liability of $38.6T, or $328,404 for Each U.S. Household

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Your comment could not be posted. Error type:
Your comment has been posted. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.


Post a comment

Your Information

(Name and email address are required. Email address will not be displayed with the comment.)