House Budget Committee Democratic Staff

1
Trust Fund Assets, Billions of Constant (2004)
Dollars
Prepared by the Democratic Staff of the House
Budget Committee Source CBPP using SSA economic
assumptions 2/7/05
2
Budget Window
Billions
Prepared by the Democratic Staff of the House
Budget Committee Source CBPP using SSA economic
assumptions 2/7/05
3
Presidents Privatization Plan Would Weaken
Social Security For Decades
Presidents Plan Starts Here
Social Security Annual Cash Flows in Billions of
Dollars
Prepared by the Democratic Staff of the House
Budget Committee Source CBO 2/7/05
4
Increase in Debt as a Percentage of GDP
2010s
2020s
2030s
2040s
2050s
2000s
Prepared by the Democratic Staff of the House
Budget Committee Source CBPP using SSA economic
assumptions 2/7/05
5
Presidents Plan Would Require Benefit Cuts To
Assure Social Security Solvency
Estimated first-year benefits for median-wage
worker retiring at age 65, including account
proceeds, expressed as percentage of average
pre-retirement earnings
Prepared by the Democratic Staff of the House
Budget Committee Source CBO 2/7/05
6
Tax Cuts Cost More than Social Security Shortfall
In Trillions Of Dollars Over 75 Years
Dollars in Trillions
Measured in present value
Prepared by the Democratic Staff of the House
Budget Committee Source CBPP 2/7/05
7
Backsliding Into the Deficit Ditch
From Deficit to Surplus to Deficit Again
Unified Surplus/Deficit in Billions of Dollars
Prepared by the House Budget Committee Democratic
Staff Source OMB 2/7/05
8
Bush Budget Omits Ten-Year Costs Realistic
Deficit Picture Much Worse Than Administration
Admits
Prepared by the Democratic Staff of the House
Budget Committee
2/7/05
9
More Accurate Estimate Shows Even Bleaker Budget
Outlook
Surplus/Deficit in Billions of Dollars
10-Year Estimate Including Omitted Costs
Prepared by the House Budget Committee Democratic
Staff 2/7/05
10
Portion of Foreign-Owned Debt Rises To 41 Under
Bush Administration
Billions of Dollars
Prepared by the Democratic Staff of the House
Budget Committee Source Treasury International
Capital System 2/7/05
11
Revenues Fall Short of Projection
Bush Prediction, With Tax Cuts
Individual Income Tax, Billions of Dollars
Actual
Prepared by the Democratic Staff of the House
Budget Committee 09/07/04