January 15, 2005

Social Security Trustees estimate that over the next 75 years the program faces a budget shortfall of $3.7 trillion. That's a lot of money. However, the Medicare drug benefit plan cost over the next 75 years is $8.1 trillion, and the 75 year cost if the Bush tax cuts were made permanent is $11.6 trillion. Looks more like a crisis of leadership. More on Bush's dire predictions here.

Kevin Martin close to setting a record of sorts in Canada. He is only $10,000 away from becoming curling's first $1 million career earner.

Army Spc. Charles Graner Jr., the reputed ringleader of a band of rogue guards at the Abu Ghraib prison, could face up to 15 years in prison after being convicted of abusing Iraqi detainees.

Deep divisions over the war in Iraq and intense voter registration drives pushed turnout for the 2004 presidential election to 60.7%. That's the highest level since 1968, but still not real impressive.

By the year 2020, China and India will be vying with the United States for global economic supremacy, the nation's top intelligence analysts predict, and al-Qaeda will have withered away — only to be replaced by smaller, more splintered but equally deadly groups of terrorists. The National Intelligence Council's once-every-five-year look at the future of the globe also predicted the world economy will likely be 80% larger in 2020 than it was in 2000, and average income will be 50% higher. While the United States will retain its role as the world's dominant economy and military power, China and India, the world's two most populous countries, will see their clout grow substantially.

Posted @ 9:05 AM | Link

2 Comments:

At 12:54 PM, Blogger Joe said...

I'm 19... and that basically equates to $0 for me. Thanks :)

 
At 8:27 PM, Blogger Dave said...

Actually Joe, if nothing changes you'd get about 75% of current benefits. With just a 1% increase in the tax rate, the program would be solvent forever. Dubya could also roll back his tax cuts for the wealthy and fix the program.

 

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