Well, if John Snow says "fix SS...SOON," that's good enough for me!

[Bush_Eats_Beef]

What an HONEST man. He's never lied to us before...HAS HE?

:evilgrin:



http://story.news.yahoo.com/news?tmpl=story&u=/afp/useconomysocial

WASHINGTON (AFP) - The US Social Security (news - web sites) retirement system will exhaust its trust fund and will be forced to slash benefits in 2041, a year earlier than previously projected, the program's trustees said.

The trustees' report estimated the Social Security program, which currently runs a surplus, would begin to pay more in benefits than it collects in taxes in 2017, also a year earlier than projected in last year's annual update. Social Security surpluses are currently used for general spending. The funds are replaced with special-issue Treasury bonds. Social Security will be able to continue paying full benefits by tapping those bonds until the fund is exhausted in 2041.

Under law, Social Security would then have to cut benefits by an estimated 26 percent across the board to bring the system back into balance.

The report estimated the trust fund's long-term funding gap would total four trillion dollars over the next 75 years, up from the 3.7 trillion estimated over the 75-year horizon in last year's report. "The numbers published today leave no question that Social Security reform is needed, and it is needed soon," said Treasury Secretary John Snow.

[Democrats_win]

1. The Economist Magazine jokes that Snow is just a PR man and

he's so good at it that the BA sends him to such population centers as Albuquerque. (The most recent issue of The Economist)

Too bad no one points out that these are the same people who tried to keep the true cost of bush's Medicare plan from reaching Congress.

You can't trust these people.