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As has been discussed elsewhere on this forum, Congress has mandated that the Postal Service pre-fund contractual obligations for future retiree healthcare costs. That is, they are depositing billions now to cover expenses that will be paid out years from now..
Then I read this bit regarding our national debt:
The distributional burden of payments on the debt are looked at by computing the average annual cost for each income group for $1 trillion of debt and then applying that to the historical and projected accumulations of debt.
Under current law, households with incomes between $10,000 and $20,000 pay about $69 per year; households in the $50,000 to $75,000 range will pay about $1,366 annually; and households with incomes between $200,000 and $500,000 pay $9,586.
Under the current policy distribution, these groups would bear $33, $1,390 and $9,707, respectively.
Finally, under the administration's budget, these groups would bear $36, $1,309 and $9,656, respectively.
So now it's all clear. All Congress has to do is mandate that every household write a check yearly for the applicable amounts above (adjusted yearly as the numbers change).
As has been discussed elsewhere on this forum, Congress has mandated that the Postal Service pre-fund contractual obligations for future retiree healthcare costs. That is, they are depositing billions now to cover expenses that will be paid out years from now..
Then I read this bit regarding our national debt:
The distributional burden of payments on the debt are looked at by computing the average annual cost for each income group for $1 trillion of debt and then applying that to the historical and projected accumulations of debt.
Under current law, households with incomes between $10,000 and $20,000 pay about $69 per year; households in the $50,000 to $75,000 range will pay about $1,366 annually; and households with incomes between $200,000 and $500,000 pay $9,586.
Under the current policy distribution, these groups would bear $33, $1,390 and $9,707, respectively.
Finally, under the administration's budget, these groups would bear $36, $1,309 and $9,656, respectively.
So now it's all clear. All Congress has to do is mandate that every household write a check yearly for the applicable amounts above (adjusted yearly as the numbers change).
The budget would be balanced pretty quick.
Budget? What budget? Harry Reid and Obama haven't allowed one of those things to exist for nearly 4 years. You can't balance what you don't have.
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