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View Diary: Keith Olbermann's Special Comment (246 comments)

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  •  plus a 75 year extrapolation (8+ / 0-)

    When you hear the numbers of $35T, $40T, etc, of "unfunded liability," know that they are taking that first going red point in 2016 or so, then projecting that "deficit" out (increasing with 5$, 10% per year spread between what comes in versus what goes out) for the next 75 years.

    These sky-is-falling conservative commentators and their enablers (yes, including you notcosmo), spin a worst case scenario - assuming we never change contibutions, that a possibly unsustainable model continues forward 75 - yes, 75! - years into the future with no change whatsoever. No change in taxes, cost containment, reimbursements, qualifying ages - nothing - for 75 years. Basically, a crock of shit projection made to get people scared and irrational. Yes, the system goes red in about 6 or 7 years.  And given that we never really pay off existing National Debt, that $2.5T excess Medicare payments has been spent and is pretty much gone. Its an issue that must be addressed. Rationally, logically and sadly, politically.

    Last point, going into a deficit mode does not make for bankruptcy - whether an individual, a corporation, or a government. If that were so, the US government has been "bankrupt" for 39 of the last 40 years.

    •  Chosing to step in with possible solutions rather (1+ / 0-)
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      Habitat Vic

      than fear-mongering, how about we increase the top marginal capital gains tax rate to, I don't know, say 90% for gains in the 8 figure range as a good start?

      Democracy is a contact sport...

      by jsmagid on Thu Oct 08, 2009 at 09:57:37 AM PDT

      [ Parent ]

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