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It would also mean the end of being able to properly fund the biggest Pozi scheme in the world, Social Security, unless you bring in enough migrants to offset the loss of future workers.
not only social security, but medicare, medicade. Ohh hell it would be harder for our government to function as a whole in the next few decades.
Birth Control, Roads, Infrastructure... Something will at least be there during chapter 7.
Looking indefinitely into the future, anticipated benefits, over and
above expected premiums and dedicated tax revenues, amount to $102
trillion. This is about 7 times the size of the U.S. economy. It is the
amount the government needs to have set aside today, invested and earning
interest, to fund these programs indefinitely — if it is to avoid benefit
cuts or tax increases. Since these funds have not been set aside, the
options available are not very attractive:
■ One option is an immediate and permanent tax increase equivalent to
15.6 percentage points of taxable payroll, investing the proceeds in
interest-earning assets until they are needed, beginning today and continuing
indefinitely into the future.
■ Another option is to increase federal income taxes by 60 percent, again
investing the proceeds beginning today and continuing indefinitely into
the future.
A third option is to continue the pay-as-you-go approach — raising ■
taxes or cutting benefits along the way.
The third option is the approach that has been taken. However, if
retirees are to receive scheduled benefits, tax revenues must rise. Already, these two programs combined are paying out more in benefits than
they collect in dedicated taxes and premiums. Combined, the programs
receive a transfer of about 7 percent of income taxes. In the near future,
the draw on federal finances will grow rapidly:
■ By 2012, one of every 10 income tax dollars will be needed to close
the funding gap for Social Security and Medicare.
■ By 2030, almost half of all income tax dollars will be needed to close
the funding gap.
■ By 2070, almost 80 cents of every income tax dollar will be needed to
close the funding gap.
Clearly, Social Security and Medicare are on a course to eventually
crowd out every other government program or usher in a significantly
larger federal government.
Another way to look at the funding problem is to
apply the same accounting standards used by private
corporations and state and local governments. Suppose
Social Security and Medicare were ended tomorrow —
collecting no more payroll taxes and allowing no more
accrual of benefits. How much would be owed current
retirees and workers in benefits they have already
earned? Answer:
■ An estimated $9.5 trillion is owed to current retirees
— an amount equal to almost $250,000 per person 65
years of age and older in 2008.
■ Adding the liability owed to those nearing retirement
(55 and older) more than doubles the accrued debt to
$20.6 trillion.
■ Adding the benefits accrued by younger workers
brings the total to as much as $52 trillion.
Speaker of the House Nancy Pelosi boldly defended a move to add birth control funding to the new economic "stimulus" package, claiming "contraception will reduce costs to the states and to the federal government."
Pelosi, the mother of 5 children and 6 grandchildren, who once said, "Nothing in my life will ever, ever compare to being a mom," seemed to imply babies are somehow a burden on the treasury.
STEPHANOPOULOS: Hundreds of millions of dollars to expand family planning services. How is that stimulus?
PELOSI: Well, the family planning services reduce cost. They reduce cost. The states are in terrible fiscal budget crises now and part of what we do for children's health, education and some of those elements are to help the states meet their financial needs. One of those - one of the initiatives you mentioned, the contraception, will reduce costs to the states and to the federal government.
STEPHANOPOULOS: So no apologies for that?
PELOSI: No apologies. No. we have to deal with the consequences of the downturn in our economy.
You are correct that IF people want children and can afford to have them and raise them it's no one's business. There is nothing wrong with having a large family. Most people that I have met that have large families do not receive any government aid.
The more important question, IMHO, is why is the Federal Government trying to stick it's nose into our business?
Contraception IS available free of charge. Planned Parenthood and community clinics have been providing contraception and counseling for decades. If it is found that the patient can afford the services the cost is based on a sliding scale based on income.
I heard today that the program that Pelosi is proposing is completely voluntary. If that is the case, again, why should the government pay for services that are readily available?
Yes, anyone can get free condoms, if they can repeatedly find a way to a Planned Parenthood when they need more. They do not give them out by the case. Also, there is not a Planned Parenthood nearby in many areas of the country, so access is a problem. Furthermore, family planning experts all advise using 2 forms of birth control. Condoms alone, as I'm sure you know, are not fail proof and are often not used consistently or correctly. It would be great if people ALWAYS had a condom handy and let's be real. They don't and they won't.
As far as the pill goes, pharmaceutical companies have recently raised the cost making it unaffordable for some. Planned Parenthood out of necessity has to charge more. They have a sliding scale, but it is not free and it is often more expensive than you might think. Check out this link:
Go Nancy! The fewer people the better, the less of a burden on the rest of us and the environment. It's good to see logic taking precedence over religious superstition
Yes, suure Perhaps Pelosi should implement a sort of "Family Planning" based on the Chinese style: one child per family?
The fewer American babies born, the more illegal immigrant babies being born. Do you really believe that illegal immigrants are going to stop having babies on this side of the border? Just look at Europe where most have stopped having children, and now they have to rely on immigrants from around the world to become their workforce.
I hope I live to see someone throw a bucket of water on Pelosi. If we could just get that broom, ...why..Hillary could get a heart,Obama could get some courage, Reid could get a brain, and Dorothy..well... Bill has a plan for Dorothy.
Are you saying that women should have babies when they don't want them or when they are not in a situation to adequately care for them as a service to their country?
Apparently. But it shouldn't be. I would think that anyone who is strongly against abortion, and strongly against paying for the care of welfare recipients' children would passionately support free birth control, free family planning counseling and what ever else we currently have in our arsenal to reduce the # of abortions and children who are raised at taxpayers expense.
I am truly surprised by the responses I've read on this thread. I'm not following the logic.
Are you saying that women should have babies when they don't want them or when they are not in a situation to adequately care for them as a service to their country?
No. I am saying that we shouldn't stop having babies, for as we age those babies will be adults and paying taxes that will support us retirees I am also saying that immigrants have not problems having scores of babies, and aren't going to stop.
The problem with Pelosi is the pork or money given to Planned Parenthood, since a lot of this money will go overseas. Obama just reversed Bush's cash block to Planned Parenthood and other organizations performing abortions overseas.
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Birth Control, Roads, Infrastructure... Something will at least be there during chapter 7.
Perhaps Pelosi should implement a sort of "Family Planning" based on the Chinese style: one child per family?
