General Discussion
In reply to the discussion: FFS... the PURPOSE of ENTITLEMENT REFORM is to REDUCE benefits [View all]bhikkhu
(10,726 posts)I believe the baseline assumption of the CBO is 3% growth (of both GDP and spending). This is supposed to err on the conservative side, as long-term historical growth has been 5%.
The problem arises in that we haven't seen even 3% growth in a long time, and I don't know of any developed country that is expecting 5% growth anymore; the assumptions come from a world of abundant cheap resources, and that world isn't coming back.
I think the result is that we have projections that might be more optimistic than they should be. Its not a big difference, but I do think the odds are towards slightly bigger problems than projected than slightly smaller. In any case, I still wouldn't worry if this idiot-congress passed the buck and did nothing. There's no advantage to doing it wrong, and we could tackle the problem in a couple of years just as well.
My main point is that wishing to reform the programs isn't inherently evil, and there are reforms that are possible that reduce income inequality, strengthen the programs, and protect the most vulnerable. I wouldn't demonize any democrat just for supporting reform.