BUSHFLASH
Of the 14 characteristics of fascism....
This flash video makes the point that of the 14 defining characteristics of fascism, the U.S. fits into all 14.
Fascism Anyone?
Laurence W. Britt
Wondering thoughts causing wondrous woes, making one wonder.
Labels: Church and State, Faith, freedom of religion
Chairman Grassley, Senator Baucus, and Members of the Committee, I appreciate the opportunity to appear before you today to discuss the Social Security program from three perspectives: economic, budgetary, and programmatic. Those perspectives illuminate some of the policy issues that arise as the United States confronts the aging of its population.
First, Social Security can be viewed through the lens of the economy. Beneficiaries make decisions about when to retire and how much to work before retirement partly on the basis of the amount of taxes they pay and the amount of benefits they expect to receive. Social Security also influences people’’s decisions about how much to save, which plays a role in determining the size not only of their retirement income but also of the nation’s capital stock as a whole. Consequently, Social Security has important implications for aggregate economic performance for the flow of income that the economy will be able to generate and for the total stock of wealth and overall economic resources that will be available in the future. As a result, Social Security can significantly affect the nation’’s standard of living as well as the distribution of income within and among generations.
Second, from a budgetary standpoint, Social Security is the single largest program of the federal government. This fiscal year, outlays for Social Security are expected to top $500 billion and account for 23 percent of total federal spending(excluding interest). Looking farther ahead, the Congressional Budget Office (CBO) projects that Social Security outlays will grow from 4.2 percent of gross domestic product (GDP) in 2005 to 6.5 percent in 2050. Although that growth is significant, it pales in comparison with the projected growth of the government’’s two big health programs, Medicare and Medicaid.
Last, Social Security can be analyzed from the perspective of the program itself. The most recent programmatic focus has been on the "sustainability" of the system’s finances. However, several other aspects of the program are also important. Throughout its long history, Social Security has had multiple goals some related to redistributing income, others to offsetting lost earnings. In 2004, only about two-thirds of Social Security’s beneficiaries were retired workers; the rest were disabled workers, survivors of deceased workers, and workers’ spouses and minor children. Policymakers will need to decide whether the program’s goals are still appropriate, and if so, how changes to Social Security would aid or hinder the achievement of those goals and affect various types of beneficiaries and taxpayers. Those decisions will also need to take into account the dramatic increase in the elderly population that is expected in coming decades.
My statement examines the prospects for Social Security from each of those three perspectives, in reverse order, beginning at the programmatic level.
Labels: Anti-war, Constitutional Crisis, Haliban, State of the Union