Social Security Outlook Unchanged-Trustees

[NNN0LHI]

http://abcnews.go.com/US/wireStory?id=607685

Mar 23, 2005 — WASHINGTON (Reuters) - The financial prospects for the U.S. Social Security and Medicare program trust funds showed no marked deterioration in the past year, an annual report on the retirement and health care plans said on Wednesday.

"During the past year there has been no important change in the financial outlook for either Social Security or Medicare," the funds' trustees said.

Two trustees who are not Bush administration officials said in a separate statement that the outlook for Social Security has in fact improved slightly over the last five years.

The report comes as President Bush and his Cabinet urge the public, in a series of appearances around the country, to support plans to overhaul the government retirement system as the U.S. population ages.

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[cthrumatrix]

1. worry about medicare, peak oil, budget defcit....pick a problem George

plenty of stuff that really needs help....not Terry Shaivo (she's in her keepers hands)

[mcscajun]

2. And the headline on the NY Times?

Trustees Foresee an Earlier Insolvency for Social Security

By DAVID STOUT 4:01 PM ET

Social Security and Medicare will run short of money even faster than recent projections had anticipated, trustees of the programs said today.

http://www.nytimes.com/

It's Enough To Make You Nuts. Stark, Staring, Nuts.

Of course, if you actually Read the article, then you find out that the 'trustees' aren't exactly disinterested parties. The Majority are Bush Appointees serving other posts in his Cabinet.

[Cocoa]

3. CJR has a good article on this overreaction

http://www.cjrdaily.org/archives/001394.asp

Yikes! Train moving 1mph faster!

<snip>

And with this news that the dates with doom have been moved up by all of 2.7 percent of the previously projected time frame, we get these headlines:

USA Today: "Social Security Numbers Get Uglier: Insolvency in 2041"

CNNMoney: "Social Security fund may run out sooner; New trustees' report: Latest estimates move up by one year date"

Los Angeles Times: "Social Security Going Broke in 2041; Trustees report insolvency expected to arrive a year earlier than previously estimated"

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