The Motley Fool Discussion Boards
Politics & Current Events / Political Asylum
|Subject: Re: Simpson/Bowles on CNBC going off...||Date: 11/15/2012 6:18 PM|
|Author: DufusGoneSplat||Number: 1837185 of 2001349|
So if SS and medicare aren't causing the deficit, what is? Is it the wars which cost $100bil/yr or the tax cuts on the top rate which cost $70bil/yr? Or is it both? Lets see thats $170bil/yr. What's the deficit again?
Take a look at the following spreadsheet;
as taken from the Office of Management and Budget;
Note the "On-Budget" columns and the "Off-Budget" columns.
Today there are only two off-budget entities that were once on-budget: the Social Security system and the U.S. Postal Service.
The larger and better known programs under the Social Security Act and amendments are:
Federal Old-Age (Retirement), Survivors, and Disability Insurance
Temporary Assistance for Needy Families
Health Insurance for Aged and Disabled (Medicare)
Grants to States for Medical Assistance Programs (Medicaid)
State Children's Health Insurance Program (SCHIP)
Supplemental Security Income (SSI)
Patient Protection and Affordable Care Act
Anyway, notice the Off-Budget (Social Security and Medicare, i.e.) shows a surplus, and the On-Budget (the budget congress and the President negotiate) has the deficit.
|Copyright 1996-2015 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|