Les Jones

Report: Social Security Outlook Worsening

Tuesday, May 9th, 2006 | Social Security |

From Willisms.

* The projected point at which tax revenues will fall below program costs comes in 2017 — the same as the estimate in last year’s report.

* The projected point at which the Trust Funds will be exhausted comes in 2040 — one year earlier than the projection in last year’s report.

Just two years ago, those same projections were for 2018 and 2042. Reforming Social Security was a bridge too far for Bush’s administration, but someone is going to have to make changes to the system to save it.

2 Comments to Report: Social Security Outlook Worsening

Justinb
May 10, 2006

Half a trillion dollars saved from not invading Iraq would come in handy right now wouldnt it?

Les Jones
May 10, 2006

Seems irrelevant. Social Security has been self-supporting in the past, and having excesses even. With a few small tweaks it could keep paying for itself.

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