Reply #2: Backup below - 1.2 T 10 year deficit increase offset by $200 B SS cut [View All]

[papau]

http://www.freerepublic.com/focus/news/1153340/posts


CBO: Social Security Stronger Than Thought
WINS NEWS

Posted on 06/14/2004 11:17:50 AM


WASHINGTON (AP) -- Social Security's long-term prospects are better than previously thought, a congressional report said Monday, estimating the program won't become insolvent until 2052, a decade later than projected earlier this year.

CBO Report on no problem until 2052 with Social Security - and maybe not then.
http://www.cbo.gov/showdoc.cfm?index=5530&sequence=0

NOTE THE 15% cut beginning in 2052, and 30% cut from current levels in 85 years if the assumptions are correct.

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The 7/21/04 CBO Report on effect of privatization on Social Security and the "transition Cost" is hidden in these two sales letters that try to hide the cost as a change in the percent of GDP - and do not give actual numbers!

Congressional Budget Office Long-Term Analysis of Kolbe-Stenholm Social Security Reform Proposal, H.R. 3821 (July 21, 2004)

ftp://ftp.cbo.gov/56xx/doc5665/07-21-KolbeLongTermLetter.pdf

Congressional Budget Office Long-Term Analysis of President's Social Security Commission Plan #2 (July 21, 2004)
ftp://ftp.cbo.gov/56xx/doc5666/07-21-CraigLetter.pdf

Congressional Budget Office 10-Year Budget Estimate of Kolbe-Stenholm Social Security Reform Proposal, H.R. 3821 (July 21, 2004)

ftp://ftp.cbo.gov/56xx/doc5667/hr3821.pdf

The last one above on page 3 reveals the 1.2 Trillion cost over ten years, with an offset in actual paid Social Security Benefits - can we say cut? - of 0.2 Trillion - or if you like a $200 billion cut in Social Security payouts in the first 10 years.