Posted by
Always To The Right on Saturday, September 06, 2008 4:44:35 PM
CBO's Social Security Projections Differ from Trustees?but We're Still in Trouble
Given the uncertainty
involved in long-term economic projections, the fact that CBO and
Trustees' estimates of the year of deficits and insolvency are actually
fairly close together leaves little room to doubt that Social Security
is in trouble. Even under CBO's rosier scenario, the benefit cuts or
tax increases that would be necessary to balance the system would be
severe. No matter what set of assumptions is used, it is clear that the
next Congress and the next president must take the need for reform
seriously.