Class warfare is endorsed by GOP/media when its rich screwing middle class

[papau]

When the complete total factual picture does not fit the GOP/rich screw the middle class program, Bush and the GOP start to “Lie by telling a partial truth” – namely saying that there was a 47:1 ratio of workers to retirees when SS began and now there is less than 3:1. While 3 to 1 is a correct statement, it is also a meaningless statement if it is being used to say Social Security has a major financial problem. All these fear producing partial facts fold to nothing when they are included in the financial projections, and those financial projections then show there is no problem with Social Security.

The Actuaries say there is no immediate problem, and only a modest long term problem that may also not exist since to even get the long term problem the Actuaries used an out year 1.6% GDP growth assumption – about half the US historical result – and a higher GDP growth assumption makes even the 2043 (of 2052 if you prefer the CBO projection to the Soc Sec Trustees projection) problem go away. The key fact is that there is no problem to address – at least no obvious problem. The “Reagan demanded and passed in 84 increase in the Social Security retirement age from 65 to 67” stabilized the system to 2042 at least and quite likely forever. The current Soc Secururity Trustee Report projection of a low GDP out year growth assumption of 1.6% is a nice conservative assumption that gives an early warning if things are going wrong (via changes in the annual Soc Security Trustees Report). But using in the financial projections a more realistic GDP growth assumption that is more in line with US History shows everyone that there is no problem,and that therefore there is NOTHING TO FIX in Social Security. (Sourced as to facts:Congressional Budget Office Report "The Outlook for Social Security" at: http://www.cbo.gov/showdoc.cfm?index=5530&sequence=0 )

There is no problem.

The private accounts do nothing to improve Soc Security current or future finances.

[InvisibleBallots]

1. kick