ANDRO SHRED!

Facebook    Twitter    YouTube    Instagram

Healthcare spending and Social Security to hit over $3 trillion a year

Page 1 of 3 123 LastLast
Results 1 to 15 of 35
  1. #1
    Administrator
    ADMINISTRATOR
    Prince's Avatar


    Join Date
    Nov 2000
    Gender
    Male
    Location
    Las Vegas
    Posts
    69,473

    Thanks Thanks Given 
    364
    Thanks Thanks Received 
    630
    Thanked in
    451 Posts
    Rep Points
    2147483647


    Healthcare spending and Social Security to hit over $3 trillion a year

    Healthcare spending and Social Security to hit over $3 trillion a year

    by J. D. Heyes

    (NaturalNews) A new report from the non-partisan Congressional Budget Office paints a bleak economic picture for the country in the near-term: Spending on Social Security and government-provided healthcare will consume a staggering $3.2 trillion a year by 2023, or just slightly less than all federal outlays in fiscal year 2012.

    The CBO said spending for both line items will double over the next decade, further eroding U.S. fiscal health and endangering the country's future - unless the unlikeliest of events occurs and Congress acts to mitigate the damage.

    The congressional researchers did not lay out a plan to fix the long-term imbalance between revenues and spending on retirement and healthcare benefits, but the agency said any action taken sooner rather than later would reduce the impact - if lawmakers could only agree on a course of action.

    More government equals higher costs: Why are we surprised?

    "Unless the laws governing these programs are changed - or the increased spending is accompanied by corresponding reductions in other spending, sufficiently higher tax revenues, or a combination of the two - debt will rise sharply relative to (the U.S. economy) after 2023," the CBO warned.

    This report is just the latest siren bell in the night by the CBO, warning a do-nothing Congress and an obstinate president about the real fiscal cliff that is fast approaching, and it comes as the Legislative and Executive branches dig in for yet another battle over the federal deficit in the months ahead.

    "Deciding now what policy changes to make to resolve that long-term imbalance would allow for gradual implementation, which would give households, businesses and state and local governments time to plan and adjust their behavior," said the CBO.

    Last June, congressional researchers estimated that federal health programs would swallow more than 25 percent of U.S. gross domestic product (which currently stands at about $15.5 trillion a year) by 2037 if nothing is done to reform benefits.

    In fiscal year 2012, total federal spending for Medicare, Medicaid and Social Security was about $1.6 trillion; heathcare spending alone was $885 billion, Reuters reported.

    The CBO's estimate, which is based on current law, as well as trends in government collections and outlays, said that by 2023 spending for those three programs alone will surpass $3 trillion; Obamacare will add another $134 billion in costs to provide coverage for about 26 million people who will receive insurance through expensive new state-based "exchanges."

    So much for 'cost control'

    Expanded healthcare coverage under Obamacare, by the way, is nowhere near the $50-65 billion per year President-elect Obama said it would cost. The CBO says the coverage under the Affordable Care Act will cost more like $1.3 trillion over the next decade. Part of the reason for the higher costs is that more businesses are expected to cut costs by getting rid of employer-based health insurance and forcing workers into the state-sponsored, taxpayer-subsidized exchanges. In August, the CBO estimated that figure to be around four million people but the number rose to about seven million people in this latest report.

    Among the CBO's estimates:

    -- Medicare, the program for some 50 million older and disabled Americans, will likely remain about three percent of GDP until 2019, then climb a half-percent by 2023, for a total of $1.1 trillion.

    -- Medicaid won't grow as fast: It is forecast to be about 2.2 percent of GDP by 2023, when it is expected to cost about $572 billion for some 84 million recipients.

    -- Social Security outlays, currently estimated to account for nearly 25 percent of government spending in 2014, are estimated to be about five percent of GDP for most years through 2018, when the outlay will climb to 5.5 percent of GDP in a decade.



  2. #2
    Sancho
    Big Pimpin's Avatar


    Join Date
    Dec 2010
    Gender
    Male
    Location
    I ain't gonna work on Maggie's farm no more
    Posts
    5,553

    Thanks Thanks Given 
    0
    Thanks Thanks Received 
    0
    Thanked in
    0 Posts
    Rep Points
    1250719892


    Time to raise the minimum age to receive SS and Medicare to 70, then quickly phase it out after .gov tells the average idiot there never a guaranteed payout from the SS and Medicare taxes they stole from them.

    And with any luck, this will begin the serf revolution.

  3. #3
    Is Doin It 4 Da Shorteez
    LAM's Avatar


    Join Date
    May 2002
    Gender
    Male
    Location
    Las Vegas & St. Croix
    Posts
    16,312

    Thanks Thanks Given 
    0
    Thanks Thanks Received 
    3
    Thanked in
    3 Posts
    Rep Points
    1002190314


    Quote Originally Posted by Big Pimpin View Post
    after .gov tells the average idiot there never a guaranteed payout from the SS and Medicare taxes they stole from them.
    have you ever seen an economic report on this from any independent or government entity? do you know why that is? because it never happened...

    Social Security taxes were collected from workers and added up to more than the amount of benefits paid to retirees. This buildup of surplus was intentional, the government wanted to build a reserve that would cover the benefits of the baby boomers. This surplus was invested in special U.S. government bonds that are legally obligated to pay the stated rate of interest, and then repay the principal when they mature, according to the terms of the bonds. then the proceeds (or profits for the sake of simplicity) was spent on other government programs.

    learning economics from tv and politicians only guarantees one thing, that you won't know a single thing about it.
    William F. Buckley describes a conservative as, "someone who stands athwart history, yelling Stop." - and then proceeds to drag civilization back to times best left in history's dungheap.

  4. #4
    Registered User
    oufinny's Avatar


    Join Date
    Nov 2010
    Gender
    Male
    Location
    Houston
    Posts
    3,158

    Thanks Thanks Given 
    0
    Thanks Thanks Received 
    0
    Thanked in
    0 Posts
    Rep Points
    436235045


    Quote Originally Posted by LAM View Post
    have you ever seen an economic report on this from any independent or government entity? do you know why that is? because it never happened...

    Social Security taxes were collected from workers and added up to more than the amount of benefits paid to retirees. This buildup of surplus was intentional, the government wanted to build a reserve that would cover the benefits of the baby boomers. This surplus was invested in special U.S. government bonds that are legally obligated to pay the stated rate of interest, and then repay the principal when they mature, according to the terms of the bonds. then the proceeds (or profits for the sake of simplicity) was spent on other government programs.

    learning economics from tv and politicians only guarantees one thing, that you won't know a single thing about it.
    This does nothing to explain why the SS fund will become insolvent. I know the reason but you get my point LAM. That is the means to fund it the govt used but it is not an explanation why it is an issue now and will be in the future.
    AY Fan Club President.

    "Damn, sometimes I think you guys make being stupid seem like a skill set." - Troubador

  5. #5
    Is Doin It 4 Da Shorteez
    LAM's Avatar


    Join Date
    May 2002
    Gender
    Male
    Location
    Las Vegas & St. Croix
    Posts
    16,312

    Thanks Thanks Given 
    0
    Thanks Thanks Received 
    3
    Thanked in
    3 Posts
    Rep Points
    1002190314


    Quote Originally Posted by oufinny View Post
    This does nothing to explain why the SS fund will become insolvent. I know the reason but you get my point LAM. That is the means to fund it the govt used but it is not an explanation why it is an issue now and will be in the future.
    because the babyboomers account for roughly 30% of the total US population and workforce and they also held/hold the majority of the high paying "middle-class" jobs (around the 65-70K mark) which are going away and being replaced with low wage jobs in the service sector.

    lower paying jobs means less taxes being collected and going into the fund, also with a collapsing economy future payouts on certain bonds, etc. will continue to decrease as inflation continues to increase and the costs of goods and services. SS payments are not indexed for the real rate of inflation either. the COLA is another bullshit measure of inflation just like the CPI and is closer to about 40% of the real inflation rate.

    birth rates in the US are at record lows, so there is no big "population boom" like there was post WWII when the babyboomers were born. birthrates are decreasing because the cost of raising children is more than most can afford on the low wages being paid in the service sector.

    generally who has the largest family's in the US and most country's in the OECD? those on the lower end of the income and education ladder. which means a surplus of low skilled workers which pushes wages down even further.

    it's a numbers game, always has been and always will be.
    Last edited by LAM; 02-20-2013 at 02:00 PM.
    William F. Buckley describes a conservative as, "someone who stands athwart history, yelling Stop." - and then proceeds to drag civilization back to times best left in history's dungheap.

  6. #6
    Registered User
    Swiper's Avatar


    Join Date
    Mar 2012
    Gender
    Male
    Location
    USA
    Posts
    1,879

    Thanks Thanks Given 
    4
    Thanks Thanks Received 
    13
    Thanked in
    13 Posts
    Rep Points
    164961341


    LOL another govt program the govt fucked up.

    How about letting people keep their money and save for their own retirement/health care rather than having govt do it? they fuck up everything they get their corrupt hands on.
    -S-

  7. #7
    Is Doin It 4 Da Shorteez
    LAM's Avatar


    Join Date
    May 2002
    Gender
    Male
    Location
    Las Vegas & St. Croix
    Posts
    16,312

    Thanks Thanks Given 
    0
    Thanks Thanks Received 
    3
    Thanked in
    3 Posts
    Rep Points
    1002190314


    Quote Originally Posted by Swiper View Post
    How about letting people keep their money and save for their own retirement/health care rather than having govt do it? they fuck up everything they get their corrupt hands on.
    see the Great Depression as for how well that antiquated method worked out...

    the savings rate and the income quintile is close to

    1st - 8%
    2nd - 6%
    3rd - 2%
    4th - .10%
    5th - 0.7%

    with the majority of US workers in the 3rd to 5th quintiles. and lets not forget the banks are paying less than 1% APR on savings and checking deposit accounts and the real rate of inflation is closer to 4.5% a year. so there is no true interest earned on deposit accounts anymore in the US. rates have steadily declined since the 80's and are at record lows today. banks don't need deposits anymore not when they can "borrow" from the FED at 0%.

    so you see in reality "your plan" sucks balls....
    William F. Buckley describes a conservative as, "someone who stands athwart history, yelling Stop." - and then proceeds to drag civilization back to times best left in history's dungheap.

  8. #8
    Registered User
    Swiper's Avatar


    Join Date
    Mar 2012
    Gender
    Male
    Location
    USA
    Posts
    1,879

    Thanks Thanks Given 
    4
    Thanks Thanks Received 
    13
    Thanked in
    13 Posts
    Rep Points
    164961341


    Healthcare spending and Social Security to hit over $3 trillion a year

    Quote Originally Posted by LAM View Post
    see the Great Depression as for how well that antiquated method worked out...

    the savings rate and the income quintile is close to

    1st - 8%
    2nd - 6%
    3rd - 2%
    4th - .10%
    5th - 0.7%

    with the majority of US workers in the 3rd to 5th quintiles. and lets not forget the banks are paying less than 1% APR on savings and checking deposit accounts and the real rate of inflation is closer to 4.5% a year. so there is no true interest earned on deposit accounts anymore in the US. rates have steadily declined since the 80's and are at record lows today. banks don't need deposits anymore not when they can "borrow" from the FED at 0%.

    so you see in reality "your plan" sucks balls....
    lol your plan is more govt. so you finally admit govt is the solutions to our problems. lmao.


    so you think people are stupid and can't save for themselves?
    -S-

  9. #9
    Administrator
    ADMINISTRATOR
    Prince's Avatar


    Join Date
    Nov 2000
    Gender
    Male
    Location
    Las Vegas
    Posts
    69,473

    Thanks Thanks Given 
    364
    Thanks Thanks Received 
    630
    Thanked in
    451 Posts
    Rep Points
    2147483647


    Healthcare spending and Social Security to hit over $3 trillion a year

    The main problem in this country is our massive corrupt government, and yes I think most people are stupid, hence the reason they participate in this illusionary democracy that caters to the very wealthy and big corps.



  10. #10
    Is Doin It 4 Da Shorteez
    LAM's Avatar


    Join Date
    May 2002
    Gender
    Male
    Location
    Las Vegas & St. Croix
    Posts
    16,312

    Thanks Thanks Given 
    0
    Thanks Thanks Received 
    3
    Thanked in
    3 Posts
    Rep Points
    1002190314


    Quote Originally Posted by Swiper View Post
    lol your plan is more govt. so you finally admit govt is the solutions to our problems. lmao.


    so you think people are stupid and can't save for themselves?
    and I stated that when and were exactly? the answer to that would be never....

    you fix what is broken but we all know that doesn't happen in the US. but your idiotic "anti-government" rhetoric doesn't hold any water because if it was simply a function of government then ALL governments would function like it does in the US, but they don't...because lobbying isn't allowed anywhere in the world like it is in the U.S

    save themselves, hugh..., more conservative "rugged individualism" bullshit that you gobble up with both hands as it's shoved down your throat my millionaire politicians in government....

    I got some Enron stock to sell you kid wanna buy it?
    William F. Buckley describes a conservative as, "someone who stands athwart history, yelling Stop." - and then proceeds to drag civilization back to times best left in history's dungheap.

  11. #11
    Is Doin It 4 Da Shorteez
    LAM's Avatar


    Join Date
    May 2002
    Gender
    Male
    Location
    Las Vegas & St. Croix
    Posts
    16,312

    Thanks Thanks Given 
    0
    Thanks Thanks Received 
    3
    Thanked in
    3 Posts
    Rep Points
    1002190314


    Quote Originally Posted by Swiper View Post
    lol your plan is more govt. so you finally admit govt is the solutions to our problems. lmao.
    big government is required to allow the formation of large firms and powerful MNE's. it's why the US has the most in the world and it's why they are no "small government" country's with large firms...

    but since you have zero comprehension of how econ works in the real world, you wouldn't know this, recognize it or understand how this comes to be.
    William F. Buckley describes a conservative as, "someone who stands athwart history, yelling Stop." - and then proceeds to drag civilization back to times best left in history's dungheap.

  12. #12
    Registered User
    Swiper's Avatar


    Join Date
    Mar 2012
    Gender
    Male
    Location
    USA
    Posts
    1,879

    Thanks Thanks Given 
    4
    Thanks Thanks Received 
    13
    Thanked in
    13 Posts
    Rep Points
    164961341


    Healthcare spending and Social Security to hit over $3 trillion a year

    Quote Originally Posted by LAM View Post
    and I stated that when and were exactly? the answer to that would be never....

    you fix what is broken but we all know that doesn't happen in the US. but your idiotic "anti-government" rhetoric doesn't hold any water because if it was simply a function of government then ALL governments would function like it does in the US, but they don't...because lobbying isn't allowed anywhere in the world like it is in the U.S

    save themselves, hugh..., more conservative "rugged individualism" bullshit that you gobble up with both hands as it's shoved down your throat my millionaire politicians in government....

    I got some Enron stock to sell you kid wanna buy it?
    who are you calling kid, chump?

    you think govt is the answer to all what is wrong with it. people like you are the reason why so many people are dependent on govt. you think it's helping people when it does the opposite. you're too stupid to understand that. you're a lost cause. move along.....
    -S-

  13. #13
    Windy City
    ELITE MEMBER
    Big Smoothy's Avatar


    Join Date
    Jan 2004
    Location
    South America
    Age
    57
    Posts
    5,635

    Thanks Thanks Given 
    0
    Thanks Thanks Received 
    0
    Thanked in
    0 Posts
    Rep Points
    238563141


    Quote Originally Posted by LAM View Post
    This surplus was invested in special U.S. government bonds that are legally obligated to pay the stated rate of interest, and then repay the principal when they mature, according to the terms of the bonds. then the proceeds (or profits for the sake of simplicity) was spent on other government programs.
    Indeed.

    A shell game.

    Medicare will be an even larger share of GDP.

    To repeat what one knowledgeable poster who works in the financial field wrote:

    The US can do 3 things.

    1. Impose austerity measure (massive cuts), 2. Default or 3. print more money.

    He think the govt. will print more money.

    Either way, the US is headed for tough times.

    I am 43. By law we have to pay into SS.

    I am glad I have not paid or filed taxes in 11 or 12 years.
    It's an accurate statement that our current spending will not be increasing the debt We've stopped spending money that we don't have.

    -- Jack Lew, then director of the Office of Management and Budget, in Feb. 16, 2011 testimony before the Senate Budget Committee.

  14. #14
    NO LIMITS
    HFO3's Avatar


    Join Date
    Feb 2013
    Gender
    Male
    Location
    AMERICA
    Posts
    1,842

    Thanks Thanks Given 
    0
    Thanks Thanks Received 
    0
    Thanked in
    0 Posts
    Rep Points
    709625899


    damn, your either brave or unemployed? not paying taxes for 11-12 years, why?

  15. #15
    .45 ACP rules!


    Join Date
    Feb 2008
    Gender
    Male
    Location
    Michigan
    Age
    48
    Posts
    5,823

    Thanks Thanks Given 
    60
    Thanks Thanks Received 
    52
    Thanked in
    34 Posts
    Rep Points
    2147483647


    Social Security isn't even part of the federal budget. Social Security History

    It has it's own independent source of dedicated revenue with surpluses going to buy US bonds which get cashed in to cover any shortages.

    The problem today is that there is so much disinformation being put out there it takes some actual effort to get to the truth. That's what the government is counting on. You being too lazy to get to the truth.
    Some mornings, it's just not worth chewing through the leather straps. - Emo Phillips

Similar Threads

  1. Ron Paul social security
    By min0 lee in forum Anything Goes
    Replies: 43
    Last Post: 03-30-2008, 10:56 AM
  2. Social Security
    By min0 lee in forum Anything Goes
    Replies: 45
    Last Post: 05-09-2006, 08:04 PM
  3. Social Security sex
    By ZECH in forum Anything Goes
    Replies: 2
    Last Post: 09-07-2002, 02:58 AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Copyright© 2001-2017 IronMag® Bodybuilding Forums