Can problems be solved simply by changing the formula?
In the 1970s when inflation hit double digits, politicians changed the formula for calculating inflation. Everyday necessities were given less weight in the inflation rate. Items like electronics, that historically drop in price from year to year, when counted more heavily. This created the illusion that inflation was falling.
Politicians today have changed the formula for calculating the federal budget deficit. By applying a surplus in the Social Security fund into the general budget, they were able to report a $247 billion deficit instead of the actual number, $700 billion.
When considering the future Social Security demand, the national debt now exceeds $80 trillion. Some economist predict it will take an 80% increase in taxes across the board to balance the budget when all the baby boomers have retired.
Has changing the accounting solved the problem or just handed it off to the next generation?
Dude the baby boomers will never make it to retirement age, thats part of the plan man, they will secretly kill us off in ways not to arouse suspicion.
May 15th, 2010 at 11:59 pm
This is a republican problem.
Its called damned lies and statistics.
Ever see the WMD’s they "uncovered".
WW2 mustard gas cannisters and some stuff buried 12 years ago and leaking underground.
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May 16th, 2010 at 12:29 am
What else? ANY attempt to fix SS only brings screaming hordes of democrats out of the woodwork thus preventing any steps forward.
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May 16th, 2010 at 1:19 am
Dude the baby boomers will never make it to retirement age, thats part of the plan man, they will secretly kill us off in ways not to arouse suspicion.
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May 16th, 2010 at 1:46 am
I don`t look at inflation I look at the gap between the rich and poor. Gasoline and food are not figured in inflation but here in my middle class world gas and food prices are in my inflation.
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