Aren’t we told every election that this is what the Democrats are “saving”?
As President Obama faces pressure on the left to defend federal entitlement programs from the benefit cuts that the Republicans say are necessary to keep the programs solvent decades down the road, one part of Social Security could fall short of paying out full benefits within a few years — even while Obama is still president.
Over the long term, Social Security and Medicare have promised tens of trillions of dollars more in benefits than the nation can pay for under current policies. But Social Security’s disability trust fund is in even worse shape, and current estimates say by 2016 it won’t have enough money to pay full benefits.
Social Security is perpetually on the brink of disaster yet any politician who mentions that it needs to be radically overhauled is excoriated and labeled “heartless”.
See why we need to learn to explain things to the nice people in a more coherent fashion?
Funny how, in the midst of this ongoing economic and fiscal disaster, Obama always seems to have “top priorities” that don’t involve lots of arithmetic.
“But Social Security’s disability trust fund is in even worse shape, and current estimates say by 2016 it won’t have enough money to pay full benefits.”
Gee, I wonder if this has anything to do with the fact that so many people are claiming disability after their unemployment benefits run out? Its a good thing that Obama is working so hard to encourage job growth. It’s his top priority! It just falls after raising taxes (wait isn’t that the opposite of encouraging job growth?), gun control, immigration, destroying the GOP, golfing, Michelle’s vacations…
Let’s also not forget that the payroll tax cut the President insisted on would grow the economy, too.
What it did was cut the SS collapse date from 2027 to 2016.
Not enough money? No problem;they will just make more trillion dollar coins and hundred billion dollar bills.