Les Jones

Social Security > Report: Social Security Outlook Worsening

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.