Turns out Social Security is PLENTY solvent. Of course, Bushco is trying to steal it out from under us. Young people reading this wh think it's a good idea to privatize: Remember if they succeed, you'll probably have to take care of your parents. Baby boomers: WE NEED A NATIONAL CAMPAIGN ON THIS! What can we do?
************
Under the guise of "reform", Bush the privatizer and his brokerage-firm buddies are eager to get their mitts on the trillions of dollars in our Social Security retirement accounts. To do this, they are willing to saddle our already-weak economy and our teetering middle class with obscene amounts of debt (
http://www.nytimes.com/2004/11/28/politics/28secure.html) even as they continue to figure out new ways to keep rich people from paying taxes. All this is happening as the Chinese investors propping up Bush's deficit are starting to balk at enabling him any further.
The irony is that Social Security itself, despite the privatizers' constant propaganda barrage, is doing just fine. In fact, it's in very nearly the best shape of its entire history.
http://www.cepr.net/publications/facts_social_security.htm According to the Social Security trustees report, the Social Security program can pay all benefits through the year 2042, with no changes whatsoever. Even after 2042, the program would always be able to pay retirees a higher benefit in today's dollars than what current retirees receive. The Congressional Budget Office has an even stronger assessment: It projects that Social Security can pay all benefits through the year 2052 with no changes whatsoever. And to keep the program running forever at current benefit levels, only the smallest of revenue increases -- far, far less than the massive tax cuts Bush gave to his billionaire buddies -- would be required.
The bottom line: Social Security is doing just fine -- and if we can keep Bush's hands off of it, will stay that way far into the future.