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Welcome to the AARP Discussion Board. Here you can talk with peers about current events ranging from Social Security to caring for your parents to the latest on health care reform. It is also the perfect place to exchange healthy eating recipes and job hunting tips.
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"ENTITLEMENT" Reform
posted at January 25, 2012 11:28 AM EST
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Re: "ENTITLEMENT" Reform
posted at January 29, 2012 5:42 PM EST
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Posts: 12549
First: February 29, 2008 Last: June 16, 2013 |
In Response to "ENTITLEMENT" Reform: Both parties keep taling about it so it's bound to happen one way or another. Actually, I am seeing some bi-partisanship compromise coming down the pike since neither party wants to claim all the "glory" of any reform. Our country needs money, no doubt about it. Medicare and Social Security have got to be tweaked for them to continue for the long term. I don't see any changes to those at or close to their current retirement age (66 ) for SS or even those in the mid-50 range, maybe. We are looking for long term influx of money here (2036 and beyound) but have to start building that $$$$$ now . Not too sure if we can say the same for Medicare - those at or close to their Medicare eligibility will continue to see changes - higher premiums for Part B & D, higher deductibles, changes in the Supplemental coverage linkage and in the MA plans. Changes to the actual coverage of Medicare will happen too but this will be assigned on the medical provider end. Posted by GailL1 The consistently misinformed the public about the impact of Social Security and other entitlement programs on the deficit WHICH HAS NOTHING TO DO WITH THE DEFICIT. .
Republican Speaker John Boehner refused to raise the debt ceiling to secure tax breaks for big oil companies and his billionaire jet-owning friends. It's now clearer than ever that Republicans won't say yes to anything and would rather see our economy fall into catastrophic default than offend Grover Norquist and the Tea Party fringe by asking billionaires to pay their fair share. |
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Re: "ENTITLEMENT" Reform
posted at January 29, 2012 9:28 PM EST
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Posts: 1924
First: November 27, 2011 Last: May 31, 2013 |
In Response to Re: "ENTITLEMENT" Reform: . Posted by JANMB I didn't say anything about the nations deficit or debt - here I am only talking about SS and Medicare. I think you need to update your CBO report and their conculsions They issue NEW ones every year; I bet you're using an old variety. Here's the one from August 2011 - a whole lot different than what you posted. CBO's 2011 Long-Term Projections for Social Security: Additional InformationFrom the reports abstract:"In calendar year 2010, for the first time since the enactment of the Social Security Amendments of 1983, annual outlays for the program exceeded annual revenues excluding interest credited to the trust funds. CBO projects that the gap will continue: Over the next five years, outlays will be about 5 percent greater than such revenues. However, as more members of the baby-boom generation (that is, people born between 1946 and 1964) enter retirement, outlays will increase relative to the size of the economy, whereas tax revenues will remain at an almost constant share of the economy. As a result, the shortfall will begin to grow around 2017. CBO projects that the DI trust fund (Disability Insurance benefit) will be exhausted in 2017 and that the OASI trust fund (Old-Age and Survivors Insurance benefit) will be exhausted in 2040. Once a trust fund's balance has fallen to zero and current revenues are insufficient to cover the benefits that are specified in law, the corresponding program will be unable to pay full benefits without changes in law. The DI trust fund came close to exhaustion in 1994, but that outcome was prevented by legislation that redirected revenues from the OASI trust fund to the DI trust fund. In part because of that experience, it is a common analytical convention to consider the DI and OASI trust funds as combined. CBO projects that, if legislation to shift resources from the OASI trust fund to the DI trust fund was enacted, the combined OASDI trust funds would be exhausted in 2038." Guess "Entitlement Reform" has to come a bit faster than you think. |