Word: surpluses
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...billion Amount of budget surplus announced last fall for the same period...
...BILLION Projected U.S. budget deficit for 2002, down from a $236 billion surplus...
Unfortunately, the looming crisis is so enormous in monetary terms that not even the most Panglossian of optimists could hope to avert it with today’s surpluses. The unfunded liability of Social Security over the next 75 years is an astounding $25 trillion. For perspective, consider that the projected ten-year budget surplus before Bush’s tax cut, Sept. 11 and the recession was $5.6 trillion. That number is but 22.4 percent of the expected shortfall, and such surpluses will not continue when Social Security starts running annual deficits in the hundreds of billions ($252 billion...
...Commission to Strengthen Social Security developed three models for using retirement accounts to keep Social Security solvent. The cost of reform ranges from $400 billion to $1.1 trillion from now until sometime between 2028 and 2043, depending on the model. These estimates are well within the projected budget surplus for the next 10 years alone, which the Office of Management and Budget now puts at $2.4 trillion–a number which includes the cost of the Bush tax cut. These numbers disprove any claim that Bush’s cut compromises Social Security. By creating retirement accounts...
...question is this: do these guys have a life? Democrats and Republicans fight about everything under the sun. Social Security, Medicare, the budget, the budget surplus, the budget deficit, prescription drugs, patients' rights, minimum wage, you name it, they're arguing about it now. Do these politicians lie awake at night and wonder to themselves, "Hmm? I wonder which piece of Democrat/GOP legislation can I oppose tomorrow morning...