For starters, interest on the debt is a much larger amount than in 2005. Also, the proPortion of ss recipients vs Payors has gone from black to red. Those two facts alone make the goal unachievable.
Ok, A starting place then. At least we wouldn’t be so far in the hole.
Ok, A starting place then. At least we wouldn’t be so far in the hole.
Much of the reason it has gone into the red is because of the asinine Tax Act of 2010, http://en.wikipedia.org/wiki/Tax_Relief,_Unemployment_Insurance_Reauthorization,_and_Job_Creation_Act_of_2010
A temporary, one-year reduction in the FICA payroll tax. The normal employee rate of 6.2 percent is reduced to 4.2 percent. The rate for self-employed individuals is reduced from 12.4 percent to 10.4 percent.[9] The negative revenue impact of this measure was estimated at $111 billion.[7]