The Social Security chief actuary has stated that this does not affect the solvency of Social Security.
And the Chief Actuary of Social Security had scored that legislation as achieving full solvency for Social Security.
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Yet, the Chief Actuary of Medicare reports that already today two-thirds of hospitals lose money on Medicare patients.
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The Ryan-Sununu plan has been scored by the chief actuary of Social Security.
For these reasons, the Chief Actuary of Social Security scored the plan as achieving full solvency for Social Security.
The report is built almost entirely on the conclusion of Medicare chief actuary Richard Foster that CLASS would be unsustainable.
The bill was officially scored by the Chief Actuary of Social Security, and his calculations are available on the Social Security Administration website.
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The Chief Actuary of Social Security has scored several personal account bills as eliminating all future Social Security deficits entirely through such personal accounts alone.
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Its chief actuary, Bob Yee, claimed in his e-mail that the Department of Health and Human Services (HHS) was set to shutter the entire CLASS office.
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The Chief Actuary scores the bill as eliminating all future deficits of Social Security, with no benefit cuts or tax increases, assuring that all Social Security benefits will be paid.
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Health reform proponents got another round of bad headlines today, as the chief actuary for the Centers for Medicare and Medicaid Services released a report saying that the new law will increase costs.
Despite reduced deposits into their individual retirement accounts, the Chief Actuary concluded that the accounts offered a much better return such that all workers would choose to opt in to the personal account plan.
Indeed, in 2005, Congressman Paul Ryan (R-WI) and then Senator John Sununu (R-NH) introduced comprehensive legislation providing for just such a personal accounts plan, officially scored by the Chief Actuary of Social Security.
On Friday, CMS Chief Actuary Richard Foster said in a memo on the (less costly) Senate version of the program that premiums would be set so high they would discourage healthier people from buying in.
When the Chief Actuary of Social Security in the U.S. scored the similar Ryan Sununu bill, he concluded the personal accounts offered such a clearly better deal than Social Security that he assumed all workers would choose the accounts.
According to calculations by the Social Security administration's chief actuary, however, it is possible to transform Social Security fundamentally without resorting to tax increases or benefit cuts if we exercise reasonable restraint on federal spending growth and prudent borrowing to finance the transition to a new system of large personal-retirement accounts.
As a result of these cuts, the chief Medicare actuary expects benefits to decline and enrollment to fall by half in the next 10 years.
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