Sen. Max Baucus (Mitch Dumke/REUTERS)
Alan Simpson's greedy geezers have apparently one at least one round, so far. Those Medicare changes are still swirling around in the Beltway ether, a key Democratic Senator
says Social Security won't be included in budget talks.
WASHINGTON (AP) -- Senate Finance Committee Chairman Max Baucus says he doesn't think Congress will address Social Security as part of an effort to reduce government borrowing.
The Montana Democrat said Tuesday that Social Security has not added to the budget deficit, so it should not be included in a deficit reduction package. Baucus is part of a bipartisan group of lawmakers, led by Vice President Joe Biden, who are trying to negotiate such a package.
Because of his dual roles as Finance committee chair and a member of the Biden negotiating team, it's pretty darned likely if he says it's off the table, it's off the table. He also reiterated that Social Security is not in crisis, a message that finally seems to be breaking through. But on that note, a tip to AP editors. What's wrong with these two sentences?
The massive retirement and disability program is projected to run out of money by 2037. At that point, payroll taxes would cover about 78 percent of benefits.
That's right. How could it still be paying out 78% of benefits if it has "run out of money"?