Wednesday, November 10, 2010

The U.S. Dept Reduction Commission


The U.S. Debt Reduction Commission apparently has no access to calendars.

It is 2010, right...???

Here's why I ask - according to various news reports:

A presidential commission’s leaders proposed a $3.8 trillion deficit-cutting plan that would cut Social Security and Medicare... The co-chairmen of the panel appointed by President Barack Obama suggested reducing Social Security spending by raising the retirement age to 68 in about 2050 and 69 in about 2075.

Now isn't 2050... er... 2050? (As in 40 years from now...???)

And... er... isn't 2075... er... 65 years from now...?

Now I freely admit, I'm not what you'd call a math wiz... but I'm pretty sure I've got the math down on this one.

Are Erskin Bowles (Bill Clinton's former Chief of Staff) and Alan Simpson (former Republican Senator) - the co-Chairs of the U.S. Dept Reduction Commission - kidding...???

This is a joke... right...???

Folks... what's it gonna take? Seriously... what's it frigg'n gonna take...?!?!

I try to stay positive; I really do. I try not to let my mind drift back to certain favorite paragraph's from Vince Flynn's novel Term Limits... but I've gotta be honest...

(*PAUSE*)

In any case...

(*SIGH*)

As far as Social Security and Medicare are concerned...

Does this sound like a problem to you:

Social Security expenditures are expected to exceed tax receipts this year
...

How about this:

The (Medicare) hospital insurance fund still fails the test of short-range financial adequacy, as projected annual assets drop below projected annual expenditures within 10 years - by 2012. The fund also continues to fail the long range test of close actuarial balance
.

Jeezus, people... does it sound like we've got 40 years before we'll "need" to raise the retirement age?

Jeezus, people... even the frigg'n French have come around to facing reality!

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