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Re: Investorman post# 326752

Tuesday, 04/05/2011 1:46:26 AM

Tuesday, April 05, 2011 1:46:26 AM

Post# of 358439

...impact in the year 2019 when the Medicaid trust fund becomes insolvent.

Only an immediate 122 percent increase in Medicare taxes and a 26 percent increase in Social Security taxes can prevent (or more likely, delay) its impact.

Realizing that Americans have become pretty much numb to these kinds of ridiculous sounding proposals, U.S. Treasury Secretary Henry Paulson tried to up the ante this week. "Without change," he said, "Rising costs will drive government spending to unprecedented levels, consume nearly all projected federal revenues, and threaten America's future prosperity."



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