Well the democrats these days are standing in a burning house screaming ALL IS WELL and pretending they don't know the number or think its time to call 911. You see if they admit Social Security is screwed then it takes away one of the well thumbed pages in their play book and even worse it might get people to thinking that the Republicans may indeed be right and you can't keep spending money you don't have. And if that happens and all social programs are cut back then that would leave democrats with far less money to bribe their base and they would rather the house burn to the ground before allowing that to happen. In any case ... obama fiddles .... Rome burns and the stalwart members of the media have donned their finely monogrammed knee pads that proudly proclaim .... I BLOW THE O ... while they are out looking for dogs and rocks.
I have included a link to the Social Security Trusties yearly report and a opinion piece, you decide.
A MESSAGE TO THE PUBLIC:
Each year the Trustees of the Social Security and Medicare trust funds report on the current and projected financial status of the two programs. This message summarizes our 2012 Annual Reports.
The long-run actuarial deficits of the Social Security and Medicare programs worsened in 2012, though in each case for different reasons. The actuarial deficit in the Medicare Hospital Insurance program increased primarily because the Trustees incorporated recommendations of the 2010-11 Medicare Technical Panel that long-run health cost growth rate assumptions be somewhat increased. The actuarial deficit in Social Security increased largely because of the incorporation of updated economic data and assumptions. Both Medicare and Social Security cannot sustain projected long-run program costs under currently scheduled financing, and legislative modifications are necessary to avoid disruptive consequences for beneficiaries and taxpayers.
Crumbling quickly, thanks to the Obama economy
An indicator of just how seriously the federal government’s financial situation has deteriorated (combined of course with the establishment press’s clear desire to emphasize “news” which might assist Dear Leader’s reelection effort) is that the dismal 2012 report released by the Social Security system’s trustees on April 23 received little attention. Viewed through that perverse prism, cash deficits which “will average about $66 billion between 2012 and 2018 before rising steeply,” even before considering the $110 billion or so taken from “general (non-existent) revenues” during 2011 and 2012 to make up for the payroll tax cut, pale in comparison to the importance of higher priorities — like working up a 5,400-word report riddled with errors and distortions on what Mitt Romney was doing when he was a teenager.
H/T P.J. Media