On the recordJanuary 7, 2009
If you are at 23 percent of GDP for spending, and you only get your revenues up to 18.2 percent of GDP, you have got a structural deficit of 5 percent of GDP.
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congress.govIf you are at 23 percent of GDP for spending, and you only get your revenues up to 18.2 percent of GDP, you have got a structural deficit of 5 percent of GDP.
Kent Conrad explains the implications of spending versus revenue levels on the budget deficit.
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We create a basic minimum benefit that will apply to about 10 percent of Social Security.
If we are going to have tax-advantaged vehicles to encourage people to save for retirement, then the savings ought to be for retirement.
Things are changing very rapidly, and it presents us with a requirement to change how we envision retirement as well.