Outsource to Dean Baker:
The Washington Post War On Social Security Continues
The Post yet again is complaining that politicians who are unwilling to deal with a Social Security shortfall that is first projected to hit in 2049, when John McCain will be 113 years old. To try to makes it case sound more compelling it refers to the date 2018 when the Social Security trustees project that tax revenues will first be inadequate to meet benefit payments.
Of course 2018 is completely irrelevant to the finances of the program. At that point the program is projected to have accumulated more than $5 trillion in government bonds. But the Post wants to scare readers to advance their Social Security agenda so they trot out 2018 as though it is a date that anyone needs to worry about.
The positive side of this story is that Social Security's finances look much better than the Post's. If it keeps making up scare stories about Social Security, perhaps the date of its demise will be hastened.
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Jim Nichols
A Speculative Fiction
www.JimNichols4.com
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