The 2005 OASDI Trustees Report was released today. The sexy headline is that the “going broke” date has been moved up a year to 2041. See this, this, this, this and this to understand how that notion misleads. Matthew Yglesias posted a series of critiques of the report at The American Prospect Online blog Tapped: "Today's report confirms that the so-called Social Security crisis exists in only one place: the minds of Republicans. In reality, the program is on solid ground for decades to come."
Of particular interest in the "counterspin" post is even if we did nothing and the Trust Fund went broke in 2041, Social Security would still be able to pay out 74% of scheduled benefits. Sure it's a cut, but it is less of a cut than if we were to switch from payroll indexing to inflation indexing.
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Wednesday, March 23, 2005
2005 OASDI Trustees Report
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