Under the capped baseline, the government's operating surplus -- the portion of the surplus generated by general tax revenue rather than excess Social Security payroll taxes -- could be twice as much over the next 10 years as projected last year.
Under the government's accounting rules, the Medicare surplus has been considered part of the general government surplus, unlike the surplus generated by Social Security, which both legally and politically has been segregated from excess general government revenue.
The auxiliary turbine drives the main boiler feed pump and, optionally, an auxiliary generator which could carry away the power surplus generated by the system to the unit transformer through separate, additional primary coils.
In addition to bipartisan support for adding prescription drug coverage to Medicare, there is general agreement on using the portion of the surplus generated by Social Security, estimated by the administration at $2.2 trillion over the next decade, to reduce the portion of the debt, now $3.6 trillion, held by investors in the form of Treasury bonds.
The incremental consumer surplus generated by each new user is probably small.
That means that the government will spend nearly all of the surplus generated by part of the Medicare system.
The result is a new gilded age, in which plutocrats capture the surplus generated by an exploited class of workers.
This week's Free exchange column discusses attempts to measure the consumer surplus generated by the internet (summary here).
Much of the capital surplus generated by the periphery was expropriated by the core through unequal trade relations.
During booms, capital accumulates very fast, but the amount of surplus generated becomes harder and harder to absorb.
To do so would almost certainly require using all or nearly all of the portion of the projected surplus generated by excess Social Security revenues.
