We already have the information
We already have a rough approximation now based on the uninsured motorists in states with mandatory insurance laws.
Please get a grip here, this is just another governmental black hole for cash from taxpayers. Now if you really want to get my attention - advocate all federal employees including Congress are covered by the same healthcare and retirement plans (Social Security) we mear mortals do!
There are huge differences
[QUOTE=Easy Go]The Federal employee pension plan (which includes member of Congress) has included participation in Social Security since 1984. It has a fairly typical monthly defined benefit pension based on years of service and final salary + a 401K-like savings plan + Social Security. It works out much better for most government retirees than private retirees but that's more due to the nature of the government workers (a long career with a single employer) and the nature of the government as an employer (it pays what it promises)[/QUOTE]Not really. The differences between "defined benefit" and "defined contribution" pension plans are huge. Big enough to help bankrupt UAL, GM, Chrysler and to make CalPERS (the California Public Employees' Retirement System) one of the biggest investors in the world (assets peaked in 2007 at $260B) which will have paid out something on the magnitude of $5.7B in pension benefits in FY2009.
The govt plan gives a "defined benefit" program where the benefit (I. E. The annual payout upon retirement) is defined. You retire, the company pays you that benefit until you die.
Regular people (those in the real world) get "defined contribution" plans whereby the contribution (I. E. what the employer will contribute to your pension) is defined. If you retire, the company stops paying and you get the income generated by your savings.
In the defined benefit model, no matter how much you contribute to the success or failure of the company, or how well the company does, it is liable to pay you that defined amount from retirement until you die (long after you stopped contributing to the company's advancement) You don't have to save anything for retirement (theoretically) because you essentially get a salary for the rest of your life, for doing absolutely nothing. Retirement age can vary from plan to plan and often you can opt to take early retirement and receive a slightly reduced defined benefit.
In the defined contribution model, when you stop working, the company stops paying. If you don't have adequate savings, you don't retire.
The former model is why you always used to hear about "underfunded" pension plans or pension liabilities (starting in in the late 70's and early 80's, particularly (although not exclusively) with regard to large unionized companies (UAL, GM, Chrysler, etc.). In the case of GM, the unfunded pension liability at the time of bankruptcy, was $13.5B (or AR$51.3B or 256 million trips to chicas at AR$200 per pop (think about that for stimulus) which could produce approximately 1 million gallons of gizz).
There are two very closely related matters herein: GM was paying out billions of dollars to people that don't work there anymore and contribute nothing to the current operations and / or success of the company and this model is unsustainable, eventually, the cost of paying retirees consumes all profits and more leading to bankruptcy. In a very simplified view of most large corporate bankruptcies: the owners (e. g. stockholders) lose all their equity invested and the assets are retitled in the name of the bondholders (e. g. debt holders) and unfunded pension liabilities could be pawned off on the government's Pension Benefit Guarantee Corp (e. g. the tax payers)
Because defined benefit plans are unsustainable in the real world, they were phased out almost everywhere except in fortified union (labor organizations not the Northern States) strongholds and the government (guess that is a little redundant."union stronghold" and government)
The federal govt plan differs from the private sector in that it is funded by the annual confiscation of real property from approximately 50% of the American citizenry. The government doesn't have to make any money at all to pay these benefits (the government doesn't make any money, unless you count printing as making)
Don't get me wrong, people that were promised something should get what they were promised (even though management and the unions knew this day would come, when they struck those deals) but this illustrates yet another ever-expanding government program / practice that could not survive in the real world but does exist in the federal government.
Soapbox is now vacated, who's next!
It the CBO says it, it must be true!
[QUOTE=Esten]Per the CBO December 19 2009 letter:
"The number of nonelderly people who are uninsured would be reduced by about 31 million." (page 8)
"Would yield a net reduction in federal deficits of $132 billion over the 2010-2019 period." (page 2)
The letter is available on their website cbo.gov for all who care to read it. Unless all you want to do is indulge in conspiracy theories.[/QUOTE]The CBO is known for never being wrong. That said, some guy named Douglas Elmendorf (aka CBO Director) wrote a letter to some other guy named Baucus back in October including this gem "the mechanism governing Medicare's payments to physicians has frequently been modified (either through legislation or administrative action) to avoid reductions in those payments. The long-term budgetary impact could be quite different if those provisions were ultimately changed and or not fully implemented."
Translation, the $200 billion in "savings" in the Senate plan, to be generated by cuts in payments to physicians is bunk. Everyone knows that these cuts face strong bipartisan opposition in Congress and that the democrats plan is to fix this later so that they can keep the phantom $200B in "savings" in this bill. That means they say that they are going to cut it and therefore call it savings now, but they don't plan to actually go through with the cuts it in the future.
Try that next time your Madahos. Round up a couple of the dancers for a monger sandwich and promise them US$1000 each. After having several hours of fun then reconsider the wisdom of those earlier promises which, while they seemed like a good idea at the time, they look unrealistic under current circumstances and offer them AR$100 for the deuce. Please post about how that works out for you (once you get out of the hospital)
Then this Elmendorf guy writes to this other guy Reid on Dec. 20th "Correcting that error has no impact on the estimated effects of the legislation during the 2010–2019 period. However, the correction reduces the degree to which the legislation would lower federal deficits in the decade after 2019."
Translation, "while we have swallowed everything you have given us, we would like to point out that while our estimates for 2010-2019 are pie-in-the-sky, I smoked a big fat Bob-Marley joint before I did the post-2019 analysis."
The CBO conveniently leaves out the huge increases (related to PPACA) in taxes premiums, fines and direct costs to individuals (sorry, you can't have that test unless you pay cash) Further, I don't see this Elmendorf guy figuring in all of the payoffs that Ried used to get this through such as the $300 million Louisiana Purchase or Ben Nelson's deal for Nebraska (the medicare portion of his vote sale is $45MM) I am pretty sure that all 60 votes were bought and paid for with our money, as Reid said, if all of the senators didn't get their fair share of pork, then they aren't doing their jobs.
A red meat eating, gun toting, big game hunting
Buddy of mine sent me something very similar some time ago. I still am laughing having been reintroduced to the truth.
It was apropos that I was drinking a US-made beer, after consuming rare beef, as I read it. Made me want to grab my gun and go harvest some vittles.
What really made me laugh was reflecting on a conversation I had earlier today. I was explaining to a liberal, that immediately upon harvesting a moose, one needs to pack the body cavity with ice or snow to help cool the meat to prevent spoilage. I am not sure what I enjoyed more, offending his sensibility with the concept of delivering a 180 grain.300 win mag projectile to the life pump of a moose or grossing him out with the concept of slicing open the carcass's body cavity (nads to sternum) and emptying out its contents.