Frankly, the cash flow deficit is the only thing that matters, because it is what forces us to borrow, which is what is producing this, which is not sustainable and is why we are in such trouble now:
http://research.stlouisfed.org/fred2/graph/?s[1][id]=FYGFDPUN
We are borrowing more than a trillion dollars a year, which is increasing our public debt far faster than our GDP is increasing, and sometime in President Obama's next term, the shit is gonna hit the fan.
I am not in favor of cutting SS, but not cutting SS will require raising taxes. This year SS was underfunded for revenue by about 140 billion, which caused us to borrow 140 billion extra.
Restoring the 2% payroll tax cut will remove most of that, and after that the logical thing to do would be to add a 1% income tax for all those exceeding the SS cap each year, said money to be diverted to SS. But even that will only keep it from adding to the deficit for another 10 to 15 years.
This can't continue:
Edit history
= new reply since forum marked as read
