Funny how this "Good News" story so quickly fell out of favor in the DC Echo Chamber.
CBSNews -- MoneyWatch -- Oct 28, 2010
Jill Schlesinger, Editor-at-Large
Social Security is not on the verge of collapse says author Mark Miller.
[author of: The Hard Times Guide to Retirement Security]
Social Security is Not 'Going Broke'.
What happened this year  the program for the first time, took in less cash than it was paying out on a current year basis. But that's not a shock -- the Actuaries that run the program have known for a long time, that was coming. It happened a little earlier, a couple of years earlier, than expected -- because of the Recession; which had an impact on the amount of payroll taxes being collected and so forth.
But Social Security has a 2 1/2 Trillion Dollar, sitting in something called the Social Security Trust Fund -- which has been building up since the early 80's, because we knew these Boomer Retirements were coming up.
That Surplus is actually going to be growing over the next 10-15 years, to about 3 1/2 Trillion Dollars [...]
Funny how this Surplus story so quickly fell off the National radar screen,
Apparently the Social Security Trust Fund facts, have left the building ...
Only to be replaced by the sky-is-falling, slash everything, Austerity Chicken Hawks, in their place ...
As Harry Reid has explained so concisely:
“Social Security has not contributed one penny to the debt or the deficit ever in its 75 years.”
Just Raise the Ceiling -- pass a Clean Bill like Congress has done a hundred times before.