Sunday, February 08, 2004
From 2003 to 2020. the Census Bureau projects the number of people over 65 to increase 50%
If you take the amount of current entitlement spending (SS and Medicare) and increase it 50%, you can get an acceptable amount of spending needed in 2020.
My question is whether the demographic nightmare stops there or whether the projectors then project GDP then use a percentage of it to predict gov't revenues (read taxes).
Match that to the figure derived for SS and MEd. Then make taxes match expenses.
Or does the discretionary portion also grow based on another assumption. And then the taxes and expenses are matched to calculate the amount taxes must increase.
Seems like a lot of assumptions.
If you take the amount of current entitlement spending (SS and Medicare) and increase it 50%, you can get an acceptable amount of spending needed in 2020.
My question is whether the demographic nightmare stops there or whether the projectors then project GDP then use a percentage of it to predict gov't revenues (read taxes).
Match that to the figure derived for SS and MEd. Then make taxes match expenses.
Or does the discretionary portion also grow based on another assumption. And then the taxes and expenses are matched to calculate the amount taxes must increase.
Seems like a lot of assumptions.
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