Privatizing Social Security | Sojourners

Privatizing Social Security

How many times can President Bush get away with crying wolf?

How many times can President Bush get away with crying wolf? First came the "weapons of mass destruction." Congress believed him and committed our nation to a tragic war in Iraq, based on lies and deception. Then there were the massive tax cuts for the rich, guaranteed to get the economy going again. The result? The budget surplus was traded in for a giant deficit to be passed on to our grandchildren.

With Social Security, the president is at it again. The whole system is moving into crash mode, he says, so we need to take radical steps to rescue it. (Question: Why did the president wait until after the big tax cuts to go into panic about Social Security?)

Let’s get one fact straight right now. Social Security is not only not in jeopardy, it is in fact healthy and robust. The authority for this assertion is none other than the nonpartisan Social Security trustees, whose job it is to monitor this vital program. According to the trustees, the Social Security trust fund can pay full benefits through 2042. The Congressional Budget Office, also nonpartisan, goes beyond that and sees full solvency through 2052. Long before reaching those projected deadlines, minor course corrections can be applied and assure the Social Security program for an indefinite period.

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Sojourners Magazine March 2005
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