Social Security to Run Deficit in 2010

The Congressional Budget Office now predicts the Social Security fund will pay out more than it earns starting this year -- as in it’s happening right now.

That’s just a shade off of last year’s forecast, which expected the fund to run a deficit starting in late 2016.

Health Plan Will Require a Monthly Abortion Premium

http://republicanleader.house.gov/blog/?p=666

On line 17, p. 110, section 222 under “Abortions for which Public Funding is Allowed” the Health and Human Services Secretary is given the authority to determine when abortion is allowed under the government-run plan. The Speaker’s plan also requires that at least one insurance plan offered in the Exchange covers abortions.

What is even more alarming is that a monthly abortion premium will be charged of all enrollees in the government-run plan. It’s right there on line 16, page 96, section 213, under “Insurance Rating Rules.” The premium will be paid into a U.S. Treasury account - and these federal funds will be used to pay for the abortion services.

Just 41% of Voters Nationwide Now Favor Obama's Health Care Reform

http://www.rasmussenreports.com/public_content/politics/current_events/healthcare/september_2009/health_care_reform
It's not a communication issue, it's a substance issue.

As Scott Rasmussen, president of Rasmussen Reports, wrote recently in the Wall Street Journal: “The most important fundamental is that 68% of American voters have health insurance coverage they rate good or excellent … Most of these voters approach the health care reform debate fearing that they have more to lose than to gain.” A Rasmussen video report shows that 53% of those with insurance believe it’s likely they would have to change coverage if the congressional plan becomes law.

2016: The Year Social Security Begins to Spend More Than it Takes In

http://www.heritage.org/Research/SocialSecurity/wm2439.cfm

"In net present value terms, Social Security owes $7.7 trillion more in benefits than it will receive in taxes."

"In other words, Congress would have to invest $7.7 trillion today in order to have enough money to pay all of Social Security's promised benefits between 2016 and 2083."

"Any worker born after 1970 will reach full retirement age after the trust fund is exhausted."

Social Security Reform

Slovakian Social Security Reform:
http://www.coin.dk/default.asp?aid=467
http://www.heartland.org/policybot/results/14327/Slovakia_Adopts_Personal_Retirement_Accounts.html

"Like the American pay-as-you-go retirement scheme, the pre-reform Slovak public pension system faced adverse demographic trends and long-term financial shortfalls. In 2003, Martin Chren, a Slovak economist, estimated there were only 132 workers per 100 pensioners in Slovakia. Projections showed that pensioners would outnumber workers by 2040, at which point each worker would have to pay for the retirement benefits of more than one elderly person."


Chilean Social Security Reform:
http://www.cato.org/pub_display.php?pub_id=5981
http://www.cato.org/testimony/ct-jr040518.html

"There have been enormous external benefits: the savings rate of Chile was 10% of gross national product traditionally. It has gone up to 27% of GNP. The payroll tax in Chile is zero. Of course we have an estate tax and an income tax, but not a payroll tax. With full employment and a 27% savings rate, the rate of growth of the Chilean economy has doubled."

"Since the Chilean system was implemented, labor force participation, pension fund assets, and benefits have all grown. Today, more than 95 percent of Chilean workers have joined the system; the pension funds have accumulated over $50 billion in assets, a sum that is equivalent to about 67 percent of Chilean gross domestic product; and the average real rate of return has been over 10 percent per year."