Coverage provisions because those are really just Getting Started now the baseline for the last four years, they dont have those provisions in them. We start with stated that does not have those provisions in and build them and. For Everything Else in the Affordable Care act of our revenue provisions, medicare and medicaid provisions, we just have a baseline that includes the affects of all of those provisions as they unfold. So we cannot go back and do an analysis and any clear way of the fsx those provisions have been an isolated sense. A map is see if we can provide information that would be helpful. Thank you. Several times this morning you and others have said that you have basically two options for addressing this long term problem. One is reducing costs in our retirement and Health Savings programs and the other is increasing revenue through taxation. But it does seem to me that there is a third way that we are not talking about nearly in half today, and that is growing the econ
Among people in the Financial Community about what the Interest Rates will go back up to undergo backup. And so we expect someone push Interest Rates down and for example the growth of the labor force which reduces the number of people who are coming to work with any piece of capital and that pushes down Interest Rates and we look at the Interest Rates and a greater share of income going to high income people and increases saving and pushes down Interest Rates and a number of this relative to history and we also is think that there will be a info from abroad and i dont think that will pushes the we have the letter, if you will and we have that using the evidence that exists to assess these rules for sizes and let them we would like them to be somewhat lower over the next 25 years and so we took down the production of this by a percentage point. So if we put that back up, we did show in our report that if Interest Rates were have a percentage point higher over the entire 25 years and we
Deficits in the out years. I remember our Health Care Costs coming back under control. I learned that the projections of the balanced budget within ten years which would be six years from now. Do you have no recollection of those . Payware that kennedy is projections. Cbo doesnt do projections of resolutions only of bills that are being considered and under the current law. On the estimates weve done sometimes they are putting the assembly of them as the bottom line for the resolution that doesnt come from us. The last time we had a High Percentage was during world war ii. In fiscal year 1945 we grew out of that it be not . What happened after world war ii is the budgets were more or less balanced. In fiscal year 1945. Truman abolished the tax and in fiscal year 194016 produced the income tax rates. He took in fiscal year 46 the federal spending from 85 billion down to 30 billion in a single year. He fired a 10 million federal employees in the deep mobilization and projected unemployme
Each of your materialized jury worlds with a single flashback on consumed income group some of them still in charge of collecting the revenue to pay for the National Defense. This is a sweep of history that talks about he went we went from 1 of their income being collected prior to the american revolution. In london they were paying over 20 . We were moving along. Over time where it got more repetitive and the economy slowed. We were doing very well and moved away from the policy. The solution is part of it is not things you do today to fix things tomorrow. I do think we can look forward to the time perhaps you didnt have an income tax until 1913. Also, in the book i talk about is doing things at the state level that becomes a model for federal activity. Term limits then hit the congressman which is very powerful. Transparency at the National Level followed at transparency in the state. We have nine states with no income tax. Host North Carolina air moving towards guest another ten or