The 2005 Social Security Trustees ReportThe 2005 Social Security Trustees Report lowers the estimate of Social Security's deficit through 2079 to 0.6% of GDP. Last year's Trustees Report pegged the deficit through 2078 at 0.7% of GDP.
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Social Security's financial status improved even though the new forecast window adds a big deficit year--2079--to the calculation. And its financial status improved even though the Bush administration assumed:
1-Reduced earnings on the part of the young.
2-Reduced death rates on the part of the old.
3-Lower labor force participation on the part of the young and old.
4-More short term inflation.
5-No change in long-run productivity growth (in spite of very good productivity news).
6-No change in immigration (in spite of immigration running ahead of assumptions).
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http://delong.typepad.com/sdj/2005/03/the_2005_social.html---------------
The more I hear, the more dishonest the numbers become. This is unbelievable.
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