Challenges Affecting the Federal Budget in the Near Term

[karl]

From the General Accounting Office Report (GAO)

Challenges Affecting the Federal Budget in the Near Term

2008 - Oldest members of the baby-boom generation became eligible for early Social Security retirement benefits

2008 - Medicare Hospital Insurance (HI) outlays exceeded cash income

2010 - Social Security runs first cash deficit since 1984

2011 - Oldest members of the baby-boom generation become eligible for Medicare

2014 - 45 percent of Medicare outlays funded by general revenue

2016 - Social Security begins running consistent annual cash deficits and redeeming trust fund assets (i.e., nonmarketable Treasury securities) in order to pay beneficiaries

2017 - Medicare HI trust fund exhausted. Income sufficient to pay about 81 percent of benefits

2020 - Debt held by the public under GAO’s Alternative simulation exceeds the historical high reached in the aftermath of World War II

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Rapidly growing interest costs on the national debt together with spending on major entitlement programs will absorb approximately 92 cents of every dollar of federal revenue by the year 2019. By 2020, that figure will be up around 100 cents of every dollar of federal revenue. So that means that interest on the debt and spending on entitlement programs will eat up everything the U.S. government takes in before a penny is spent on anything else. That is a recipe for national financial suicide.

This is only ten years away folks. My adopted daughter will not even be 21 when this hits. PLEASE do not take assurances of libs that everything is wonderful or even OK. This is a CRISIS of unprecedented proportions brought on by irresponsible (or worse) people in high places. We have the power to replace them, but that only matters if we DO it!

Please do not write this off as conservative fear-mongering

(full report here: http://www.gao.gov/new.items/d10468sp.pdf)

[phkrause]

From the General Accounting Office Report (GAO)

Challenges Affecting the Federal Budget in the Near Term

2008 - Oldest members of the baby-boom generation became eligible for early Social Security retirement benefits

2008 - Medicare Hospital Insurance (HI) outlays exceeded cash income

2010 - Social Security runs first cash deficit since 1984

2011 - Oldest members of the baby-boom generation become eligible for Medicare

2014 - 45 percent of Medicare outlays funded by general revenue

2016 - Social Security begins running consistent annual cash deficits and redeeming trust fund assets (i.e., nonmarketable Treasury securities) in order to pay beneficiaries

2017 - Medicare HI trust fund exhausted. Income sufficient to pay about 81 percent of benefits

2020 - Debt held by the public under GAO’s Alternative simulation exceeds the historical high reached in the aftermath of World War II

----------

Rapidly growing interest costs on the national debt together with spending on major entitlement programs will absorb approximately 92 cents of every dollar of federal revenue by the year 2019. By 2020, that figure will be up around 100 cents of every dollar of federal revenue. So that means that interest on the debt and spending on entitlement programs will eat up everything the U.S. government takes in before a penny is spent on anything else. That is a recipe for national financial suicide.

This is only ten years away folks. My adopted daughter will not even be 21 when this hits. PLEASE do not take assurances of libs that everything is wonderful or even OK. This is a CRISIS of unprecedented proportions brought on by irresponsible (or worse) people in high places. We have the power to replace them, but that only matters if we DO it!

Please do not write this off as conservative fear-mongering

(full report here: http://www.gao.gov/new.items/d10468sp.pdf)

Yes this can be voted away, but what will change? Absolutely nothing. The reason why the last party was voted out of the WH was for the same reason, and the party before that. What has really changed in the past 40 years. Didn't Reagan run up the defficent? and didn't Clinton fix that? So it doesn't really matter who's in office, this will continue to bulge. Its actually very exciting to me! It means that our Lord and Savior will e coming soon.

pk

[karl]

Yes this can be voted away, but what will change? ....So it doesn't really matter who's in office, this will continue to bulge. Its actually very exciting to me! It means that our Lord and Savior will e coming soon.

Let us do evil, that good may prevail.

[phkrause]

Didn't know I said that, but I guess you know me better than I do. That is what I would call a liberal statement if I ever heard one. Telling someone what they mean when that is not the case at all. But what can you expect from someone who says they are conservative but really are very liberal with there comments.

pk

[karl]

I've had the same thought many times about something rotten that's happening... "This means the end will come sooner!" The question is, "Should we encourage evil so that the end will come sooner?" (Hence the old saying. "Let us do evil that good may prevail.)

I believe we should use the power of our vote as we were advised by EGW. In this particular political situation, I cannot vote for any candidate who does not have a concrete plan to reduce spending. Not just a reduction in the acceleration of spending, but a reduction in actual spending to the point that we can start paying down the deficit. This means cutting all aspects of government spending.

Smaller government. Now.

[phkrause]

I've had the same thought many times about something rotten that's happening... "This means the end will come sooner!" The question is, "Should we encourage evil so that the end will come sooner?" (Hence the old saying. "Let us do evil that good may prevail.)

I believe we should use the power of our vote as we were advised by EGW. In this particular political situation, I cannot vote for any candidate who does not have a concrete plan to reduce spending. Not just a reduction in the acceleration of spending, but a reduction in actual spending to the point that we can start paying down the deficit. This means cutting all aspects of government spending.

Smaller government. Now.

yes I agree. but who do you vote for? neither side is worth it. What I hear you saying is that if you are a democrat you are evil! So than a guess if you are a republican you are holy? Well I wonder where I'm at than, being neither? Sorry but that's why we have a 2 party system. There are pros on both sides and cons to both sides. And if we think that either side has our best interests at heart I really feel sorry for all of us.

pk

[karl]

Originally Posted By: karl

I believe we should use the power of our vote as we were advised by EGW. In this particular political situation, I cannot vote for any candidate who does not have a concrete plan to reduce spending. Not just a reduction in the acceleration of spending, but a reduction in actual spending to the point that we can start paying down the deficit. This means cutting all aspects of government spending.

Smaller government. Now.

yes I agree. but who do you vote for?

Only true conservatives with a concrete plan to reduce government size and intrusion into our lives. We must have, not just a balanced budget, but one that pays down the deficit.

[phkrause]

Only true conservatives with a concrete plan to reduce government size and intrusion into our lives. We must have, not just a balanced budget, but one that pays down the deficit.

There are none! So who's left?

pk

[karl]

Originally Posted By: karl

Only true conservatives with a concrete plan to reduce government size and intrusion into our lives. We must have, not just a balanced budget, but one that pays down the deficit.

There are none! So who's left?

There are a few already in office who are fiscally conservative. Others would be more conservative if we turned up the heat on them.

Jon Kyl

Dana Rohrabacher

Clifford Stearns

Donald Manzullo

Mark Souder

Todd Tiahrt

Gene Taylor

James Inhofe

Thomas Coburn

John Duncan

F. James Sensenbrenner

[phkrause]

You can say they are, but there is no way of really knowing! I'm pretty conservative in spending myself, yet I'm in debt. Some mu fault, but much due to not having a job now for over 2 years. Do I sit around blaming either party? No. I think they are all at fault. It takes two to tango, and if we believe that one side or the other is at fault we are dilutety ourselves.

pk

[karl]

You can say they are, but there is no way of really knowing! I'm pretty conservative in spending myself, yet I'm in debt. Some mu fault, but much due to not having a job now for over 2 years. Do I sit around blaming either party? No. I think they are all at fault. It takes two to tango, and if we believe that one side or the other is at fault we are dilutety ourselves.

I share your despair, but refuse to give in to it.

The men I listed vote against bigger government / more spending most of the time. None of them are perfect at it. The point really is that most of the people in office are liberals. Even the ones listed commonly as moderates are liberals. The newsmedia is liberal, so the people listed as moderate are actually liberal and the ones listed as liberal are actually off the scale.. There are not nearly enough conservatives.

Vote conservative. To do otherwise is to hasten the demise of our country.