From Bloomberg:
Now that health care is off the front burner, it’s time to fix Social Security. Social Security’s trustees say the system needs only “modest changes.” In fact, the system is desperately broke.
The proof is buried deep in the trustees’ own 2012 report in a complex table, numbered IV.B6. The system’s actuaries prepare the report’s tables. But what the trustees make of them is up to the trustees. Clearly this year, as in others, the trustees ignored table IV.B6. How else could they have come up with their blase statement that Congress should address Social Security’s finances “in a timely way”?
Social Security Hole Overwhelms Taxes, Cuts http://t.co/85pK4rPR
Solid article. I think the plan has more promise than detail – so no one knows whether it would work. But no one writes more accurately about the problems in Social Security, and his description of the 75 year solvency numbers shows the lack of seriousness in the public debate.
Our site http://www.FixSSNow.Org provides one-stop shopping for people ineterested in Social Security reform.
I thought Social Security was originally supposed to be in a trust fund. That trust fund has been robbed time and again. If the feds are so into stimulus, how about putting the money back with interest? Next you might want to investigate disability fraud.