Liberal Media my ass!
'The trust fund for Social Security will go broke in 2041 -- a year earlier than previously estimated -- the trustees reported Wednesday.'
Okay, either the trustee got it wrong, or this reporter got it wrong. Social Security CAN'T go broke. It can go into deficits, it can be unable to pay all of its future forecasted obligations, but it can NOT go broke.
Why do so many people fall for this crap? Social Security will STILL be receiving revenues in 2041, as it will in 2042 and on assuming Bush and the Republicans don't destroy it first.
More on the flip.
For Medicare, the threshold when benefits exceed program income occurred last year. For Social Security, that threshold will be crossed in 2017, one year earlier than the 2018 date projected in last year's report.
The administration cited that change as a sign of the urgency to act to deal with Social Security's funding woes. Democrats argue that the real crisis is in Medicare and that the administration is ignoring the health care crisis.'
Does anyone else see the irony here?
Medicare has just done into deficit spending mode and so now Bush cites the worsening situation (due to HIS policies) as an excuse to rush to dismantle Social Security.
'The trustees said that Social Security's unfunded obligations total $4 trillion over the next 75 years, an increase from last year's projection of $3.7 trillion in unfunded liabilities.
The report also updated a forecast of unfunded obligations over an infinite horizon of hundreds of years. That unfunded liability was put at $11.1 trillion, up from $10.4 trillion last year. While the administration insisted it was legitimate to include a forecast over such a long time horizon, Democrats charged that the administration had developed this figure in an effort to make the funding problems in Social Security look even worse.
So let me get this straight, $4 trillion debt over 75 years and another $7 trillion over INFINITY?!
Oh joy, let's divide $7 trillion over infinity and you get...garbage.
Of course, then there's the big problem of who's on the Social Security Board, talk about Foxes and Hen Houses.
The six-member board of trustees is headed by Snow and also includes Labor Secretary Elaine Chao, Health and Human Services Secretary Mike Leavitt and Social Security Commissioner Jo Anne Barnhart.
In addition, there are two public trustees, Thomas Saving of Texas and John L. Palmer of New York.
Bushies seem bound and determined to destroy Social Security, and it will take constant vigilance to prevent them from achieving their goal.