FactCheck.org takes on Social Security debate

Unlike most political analysis, FactCheck.org focuses on providing links to the facts, not just spouting opinion. They got started mostly for the 2004 elections, but they are continuing to keep track of current political debates.

Turns out all the hype about Social Security going bankrupt is a major exaggeration. If we do nothing, the most pessimistic projection shows that the SSA will have to cut promised benefits by 27% beginning in 2042, and by 2075 benefits would have to be cut by 32% from the promised amount. I'd hardly say that Social Security is going bankrupt.

While we probably should do something about SSA, there's no need to rush into "solutions" that could make things worse. And the political venom is not helping matters.

FactCheck.org's latest article on the Social Security debate covers Bush's April 28 statements on plans slow the growth of benefits in the future for higher income workers.

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