Social Security. I heard on the news, CNN I think, just in passing

[RaleighNCDUer]

before coming to work, that Social Security Administration has decided that their income will exceed payments until 2020 instead of 2018, now, and that it will remain in the black until 2052, not 2042.

This, the day after we get hold of the repub talking points book for SS.

I've not seen a mention of it since.

I've heard it suggested here that SSA is opposed to *, and has been disputing the repub figures, but have been effectively muzzled by the senate and white house.

Any input?

[cthrumatrix]

1. it's there....CNN site

Budget office: Social Security loss starts in 2020
Tuesday, February 1, 2005 Posted: 11:32 AM EST (1632 GMT)

WASHINGTON (AP) -- The Social Security system will take in more money annually than it pays out in benefits until 2020, two years later than earlier estimated, the Congressional Budget Office reported Monday in a modest change unlikely to alter the growing political debate over the program.

Congress' budget analysts also estimated the program's trust funds will be depleted in 2052, "meaning that beneficiaries will be able to count on receiving only 78 percent of their scheduled benefits beginning then.

"After the trust funds are exhausted, Social Security spending cannot exceed annual revenues," the analysts said. "As a consequence ... benefits paid will be 22 percent lower than the scheduled benefits."

snip
http://www.cnn.com/2005/ALLPOLITICS/02/01/socialsecurity.ap/index.html

[displacedtexan]

3. If every single baby boomer lives to be 100...

the program's trust funds will be depleted in 2052

might be remotely true...

Barring some major breakthrough in interferon therapy, right now that statement is totally specious!

When we boomers die off, there will be tons-o-money for future generations.

Repukes just want your money now.

[hector459]

2. I hope a lot you were able to hear or watch the oversight hearings with

the Social Security Administration employees the other day. They are not going to allow Bush to walk all over their agency. I hope the Congress has enough balls to back them.

[OneTwentyoNine]

4. Change the cut-off point from $89K to $10 million and it'll be solvent..

Until 2200.Why the hell do people who can MOST afford to pay more into SS don't have to once they pass that magical $89,000 income level??

Its BS that the majority of the taxpayers pay SS on ALL their income.