On Fri, May 14, 2004 at 07:05:07PM -0700, Gautam Mukunda wrote: > I don't think that the entitlement problem is in any sense > catastrophic - given recent increases in productivity, it may, in > fact, be entirely manageable.
Do you have numbers to back that up? Or is that just wishful thinking? The present value of promised entitlements (SS, Medicare primarily) amounts to $45 trillion. That is 4 times GDP, or about $154,000 per American alive today. > But it still _has to be managed_. Either taxes need to be raised by about 65%, or the boomers will be eating dog-food. Who will raise taxes by that much? Productivity ain't gonna do it. -- Erik Reuter http://www.erikreuter.net/
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