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What’s the real federal deficit?

August 23rd, 2006 by Kevin Wood

Interesting article in USA Today about the federal defecit.

The Bush administration opposes including Social Security and Medicare in the audited deficit. Its reason: Congress can cancel or cut the retirement programs at any time, so they should not be considered a government liability for accounting purposes.

This seems to be the same attitude policymakers have when it comes to reforming Social Security. “It is not a problem right now so leave it be.” Today on C-Span’s Washington Journal Dick Armey told a caller that the answer to the Social Security problem is personal savings accounts.

Armey said that the Republicans do not want to touch the issue and the Democrats do not care about reforming Social Security. More on FreedomWorks Social Security plan can be found here.

The rest of the USA Today article can be found here.

This entry was posted on Wednesday, August 23rd, 2006 at 9:24 am and is filed under Social Security, U.S. Budget. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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One Response to “What’s the real federal deficit?”

  1. edpeff Says:
    September 8th, 2006 at 3:43 pm

    The “Bush Deficit” should be paid for by increasing the “inheritence tax”

    ed

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