Hospitals & Asylums
HA-29-5-05
Text: www.title24uscode.org/stat2005.doc
OMB Projection
|
Year |
Def |
Vet |
Mil |
Int. |
Rev |
Bud |
Def |
Debt |
GDP |
|
2004 |
437.116 |
62.02 |
521 |
25.522 |
1,880 |
2,292 |
-412 |
7,355 |
11,552 |
|
2005 |
444.068 |
68.05 |
512 |
25.500 |
2,052 |
2,479 |
-427 |
8,031 |
12,227 |
|
2006 |
410.092 |
67.02 |
511 |
26.068 |
2,177 |
2,568 |
-390 |
8,707 |
12,907 |
The budget deficit for 2004 was $412
billion, the highest ever. An even
higher deficit of $427 billion is projected for 2005. It is possible to balance
the budget if SSA and DoD can co-operate with Congress to limit their agency
revenues by capitalizing on interest and cease accumulating capital. Lack of attention to the budget in the State
of the Union Address however caused agency requests to mount in an imbalanced
fashion that will require the co-operation of the whole Cabinet to balance the
budget. It is imperative that the US
balance their budget in order to compete on the international market; in the
Draft European Constitution nations that don’t balance their budget are
suspended. Over funded agencies simply
cannot continue to demand more than they provide.
2005 OASDI Trustee Report
|
|
OASI |
|
DI |
|
HI |
|
SMI |
|
Assets (end of 2003) |
$1,355.3 |
|
$175.4 |
|
$256.0 |
|
$24.0 |
|
Income during 2004 |
566.3 |
|
91.4 |
|
183.9 |
|
133.8 |
|
Outgo during 2004 |
421.0 |
|
80.6 |
|
170.6 |
|
138.3 |
|
Net increase in
assets |
145.3 |
|
10.8 |
|
13.3 |
|
-4.5 |
|
Assets (end of 2004) |
1,500.6 |
|
186.2 |
|
269.3 |
|
19. |
With profits of $146.1 billion in
2004 and $166 billion projected for 2005 the Social Security Administration
(SSA) must be held responsible for limiting the amount of social security
payroll taxes they accept, depositing surplus in the general funds of the
treasury. Whereas the OASI trust fund
tops $1.5 trillion this year it is important that the trust fund be temporarily
satisfied until the federal government balances the budget. SSA will need to
account for interest revenues and adopts a needs based policy in regards to Old
Age Insurance. The $1.5 Trillion in
savings represents enough for all the soon to be retired baby boomers to live
for two years and the economy is in little danger of instability. As long as a needs based approach is used by
the Treasury fund imbalances should not be a problem. Growth of the Trust fund
must be placed on hold until the economy can support it or the number of baby
boomers retiring presents demand for more revenues.
2005 OASDI Trustee Report
2004 OASI DI HI SMI
|
Interest earnings |
|
79.0 |
|
10.0 |
|
15.0 |
|
1.5 |
OMB
|
Year |
OASI |
Fund |
DI |
Fund |
HI |
Fund |
SMI |
Fund |
HaW |
|
2004 |
457.12 |
1,452 |
77.625 |
182.79 |
159.59 |
264.9 |
94.736 |
17.12 |
1,081 |
|
2005 |
479.89 |
1,603 |
81.472 |
192.78 |
161.36 |
274.2 |
115.23 |
18.60 |
1,271 |
|
2006 |
507.09 |
1,769 |
86.104 |
201.76 |
172.14 |
291.7 |
182.86 |
41.84 |
1,286 |
The total SSA budget of $561 billion requires reduction to balance both the federal budget and the Social Security Trust Funds at zero. In calculating the amount of reduction that OASI and SSA can afford one should estimate a reasonable increase in expenditure over last year, subtract interest earnings yielding the amount of need. Whereas $421 billion was administrated in 2004 it can estimated that OASI will administrate $450 billion in benefits this year. $450 – 79 = $371 therefore SSA is recommended to limit OASI spending to $371 billion and DI funding as budgeted at $82 billion for a $453 billion SSA budget for 2005 as savings of $109 billion from the initial budget of $562 billion. This would reduce the budget deficit to $318 billion.
|
Year |
Def |
Vet |
Mil |
Int. |
Rev |
Bud |
Def |
Debt |
GDP |
|
2004 |
437.116 |
62.02 |
521 |
25.522 |
1,880 |
2,292 |
-412 |
7,355 |
11,552 |
|
2005 |
444.068 |
68.05 |
512 |
25.500 |
2,052 |
2,479 |
-427 |
8,031 |
12,227 |
|
2006 |
410.092 |
67.02 |
511 |
26.068 |
2,177 |
2,568 |
-390 |
8,707 |
12,907 |
The Department of Defense presents the other large source of revenues needed to balance the budget. Whereas real expenditure are quite low for defense operations in comparison with the cost the represent for the budget it is generally estimated that the actual size of the DoD is actually $300 billion a year. The global total of defense spending is estimated at only $1 trillion and the US should not seek such a large share. The transfer of large sums attest to this surplus and it is expected that real costs are actually estimated by DoD at the $300 billion level and the surplus is laundered in investments inappropriately held by the negative economic influence of the armed forces and not publicly accounted for. For savings of $144 billion DoD tax revenues must be limited to $300 billion this 2005 and restrained there for several years. In making these reductions payroll must not be cut. The large holding of DoD also permit the department the liberty of returning $144 billion in agency savings to the general fund as a transitional fine. This would reduce the deficit to $174 billion.
The federal government must focus upon the balanced budget by passing the forgoing reforms to make it possible for the Federal Agencies to similarly reduce their budgets mathematically by 5-10% thereby eliminating the budget deficit. The government must keep their operations proportional to the people.
Agencies should seek matching funds from states and private contributions for their projects to reduce the burden upon the federal budget. International development presents an excellent example of self-sufficiency they regular budget of $25 billion with $33 billion in private donations in 2004. This private strategy is effective both to accomplish financial goals and to seek forgiveness for international debt held by the federal government as they give tax deductions for these funds that remain to be administrated to afford the health and welfare of people living in the world’s least developed countries.
SSI represents the most dynamic welfare program because it collect funds from multiple donors to eliminate poverty, without any other discrimination, in any given area. The focus of SSA must focus upon ensuring that people do not live below the poverty line. They must grant immediate attention to those people who are destitute or living more than 50% below the poverty line. Respect for intellectual property rights is also important for social security to support the work of beneficiaries. The most important thing is that social welfare programs that administrate all revenues equitably to the poorest are not cut back. Following the SSA and Defense budget adjustment quotas will create the following result in the books the first figures represent actual figures and the following proposal for 2005 offers price stability;
|
Year |
Def |
OASI |
Rev |
Bud |
Def |
Debt |
GDP |
|
2000 |
294.495 |
411.68 |
2,025 |
1,788 |
87 |
5,628 |
9,719 |
|
2001 |
305.500 |
434.06 |
1,991 |
1,860 |
-33 |
5,770 |
10,022 |
|
2002 |
349.555 |
440.54 |
1,853 |
2,011 |
-317 |
6,198 |
10,339 |
|
2003 |
388.870 |
447.81 |
1,782 |
2,157 |
-375 |
6,780 |
10,828 |
|
2004 |
437.116 |
457.12 |
1,880 |
2,292 |
-412 |
7,355 |
11,552 |
|
2005 |
444.068 |
479.89 |
2,052 |
2,479 |
-427 |
8,031 |
12,227 |
|
2006 |
410.092 |
507.09 |
2,177 |
2,568 |
-390 |
8,707 |
12,907 |
|
2007 |
423.192 |
537.85 |
2,344 |
2,656 |
-312 |
9,350 |
13,617 |
|
2008 |
436.437 |
568.09 |
2,507 |
2,757 |
-251 |
9,949 |
14,349 |
|
2009 |
460.546 |
598.95 |
2,650 |
2,882 |
-233 |
10,534 |
15,111 |
|
2010 |
485.112 |
635.31 |
2,821 |
3,028 |
-207 |
11,137 |
15,906 |
|
|
|
|
|
|
|
|
|
|
2005 |
300 |
371 |
2,052 |
2,226 |
-174 |
8,031 |
12,227 |
|
2006 |
300 |
385 |
2,177 |
2,338 |
-160 |
9,097 |
12,907 |
|
2007 |
300 |
400 |
2,344 |
2,426 |
-82 |
9,120 |
13,617 |
|
2008 |
300 |
420 |
2,507 |
2,473 |
33 |
9,719 |
14,349 |
|
2009 |
300 |
450 |
2,650 |
2,565 |
84 |
10,250 |
15,111 |
|
2010 |
300 |
500 |
2,821 |
2,708 |
113 |
10,820 |
15,906 |