Report: Social Security Outlook Worsening

Posted on May 9, 2006 by lesjones

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.

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3 Responses to Report: Social Security Outlook Worsening

  1. Justinb says:
    May 10, 2006 at 9:40 am

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

  2. Les Jones says:
    May 10, 2006 at 8:09 pm

    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.

  3. Pingback: Social Security Outlook Worsens. Again. | Les Jones