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Social Security - The Conservative New Deal
January 17, 2005 12:25 PM

The megaphone that comes with the Presidency of the United States is being used to mislead and lie to the American public about the viability of Social Security.

Get the facts on this great program - where it's been, its one and only crisis (in the late '70's and early '80's), and where it's going, including how George W. Bush is willing to use his fake mandate to dismantle this program that has single-handedly alleviated poverty of the elderly.

Here are a few grafs summarizing the article:

The campaign is potentially self-fulfilling: persuade enough people that Social Security is going bankrupt, and it will lose public support. Then Congress will be forced to act. And thanks to such unceasing alarums, many, and perhaps most, people today think the program is in serious financial trouble.

But is it? After Bush's re-election, I carefully read the 225-page annual report of the Social Security trustees. I also talked to actuaries and economists, inside and outside the agency, who are expert in the peculiar science of long-term Social Security forecasting. The actuarial view is that the system is probably in need of a small adjustment of the sort that Congress has approved in the past. But there is a strong argument, which the agency acknowledges as a possibility, that the system is solvent as is.

Although prudence argues for making a fix sooner rather than later, the program is not in crisis, nor is its potential shortfall irresolvable. Ideology aside, the scale of the fixes would not require Social Security to abandon the role that was conceived for it in 1935, and that it still performs today -- as an insurance fail-safe for the aged and others and as a complement to people's private market savings.

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