No Runny Eggs

The repository of one hard-boiled egg from the south suburbs of Milwaukee, Wisconsin (and the occassional guest-blogger). The ramblings within may or may not offend, shock and awe you, but they are what I (or my guest-bloggers) think.

PolitiCrap – Social Security Solvent?

by @ 8:17 on September 24, 2010. Tags:
Filed under Politics - National, Politics - Wisconsin.

Wendy from Boots and Sabers has fired the first Social Security-related salvo at FDR’s grandson’s and AARP’s claim Social Security is “solvent”. The analysis:

I admire Mr. Roosevelt’s family loyalty, but this graph from the very first page of the Congressional Budget Office’s “Long-Term Projections for Social Security: 2009 Update” debunks Roosevelt’s claim.

If the AARP study claims that the Social Security Trust Fund could pay UP TO 78% of benefits, it ain’t “sound.” “Sound” would be 100%, don’t you think?

Total crap

I could add to that by noting things got even worse since the 2009 CBO report, with the Old-Age and Survivors Insurance portion (the main part of SocSecurity) running primary (cash) deficits now, or that the Disability Insurance “Trust Fund”, which is now in the final stage of collapse as both tax revenues and interest are not enough to cover the costs, will be fully-exhausted well before 2020. Oh wait; I have been.

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