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« 13 Grandmothers | Main | Power-Up Tuesday: Antipsychotic Restraints Part II »
May 5, 2008 |Permalink |Comments (0)
Glass Half Full
Here is a more optimistic view of the security of Social Security...
Social Security: False Alarm Or False Hope?A recent Wall Street Journal MarketWatch column by Dr. Irwin Kellner entitled “False Alarm” concludes Social Security is not likely to run out of money any time soon.
Kellner’s conclusion contradicts the findings of the fund’s Trustees in their 2008 report “Status of the Social Security and Medicare Programs”. As described in their summary: “The financial condition of .. Social Security …. remains problematic. Projected long run program costs are not sustainable under current financing arrangements. Social Security's current annual surpluses of tax income over expenditures will begin to decline in 2011 and then turn into rapidly growing deficits as the baby boom generation retires. …. Growing annual deficits are projected to exhaust …. Social Security reserves in 2041.” Furthermore, his conclusion also disagrees with the findings of the Congressional Budget Office which estimates Social Security insolvency will occur in 2052.
Full text is here...