Wednesday, August 18, 2010

Social Security is not in crisis, Mr. President?

At this morning's backyard event, President Obama was noted as saying "social security is not in a crisis".

Not in a crisis, Mr. President?

Does this not qualify as a crisis?

That New York Times article went on to say:
Analysts have long tried to predict the year when Social Security would pay out more than it took in because they view it as a tipping point — the first step of a long, slow march to insolvency, unless Congress strengthens the program’s finances.

“When the level of the trust fund gets to zero, you have to cut benefits,” Alan Greenspan, architect of the plan to rescue the Social Security program the last time it got into trouble, in the early 1980s, said on Wednesday.

All that, and yet this is not a crisis.

Where are your priorities, Mr. President?

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