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Hot, steaming horseshit, fresh from the president's mouth Print E-mail
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Wednesday, 12 January 2005
This was in my L.A. Times this morning:

The president looked at [27-year-old Utah dairy farmer and apparent wide-eyed unsuspecting shill Josh] Wright approvingly.  "At your age," he said, Social Security "will be bust by the time it comes for you to retire."

According to the Social Security trustees' own worst-case scenario, this is absolute wild horseshit.

From the Social Security Administration's own FAQ page:

Q. I'm 25 years old. If nothing is done to change Social Security, what can I expect to receive in retirement benefits from the program?

A. Unless changes are made, when you reach age 63 in 2042, benefits for all retirees could be cut by 27 percent and could continue to be reduced every year thereafter. If you lived to be 100 years old in 2079 (which will be more common by then), your scheduled benefits could be reduced by 33 percent from today's scheduled levels.  [Emphasis on "could be" added.]

The full Trustees Report makes it clear that even these numbers are based on fairly dour economic projections.  So if our Utah farmer Josh lives to be 100, he'll still be getting payments.  In the very worst case, still substantial ones.

And this isn't some half-unknown situation where maybe David Kay has to go in and prowl around for a year before we know that obvious horseshit is obvious horseshit.

This is obvious horseshit right now.  Fresh, steaming, straight from the president's mouth and ready to serve.

And it's being used to try to turn the most successful social program in the history of the United States into a handout to Wall Street.



 
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