The Meaningless Milestone

Posted on

"The Meaningless Milestone"

In his speech in Detroit, President Bush said, “Thirteen years from now, in 2018, the Social Security system will be paying out more than it takes in.” He continues to use this year as the date the problem begins. However, in 14 of the past 47 years, including 1975 to 1983, Social Security paid out more in benefits than the government collected in payroll, with the gap reaching $10 billion in 1983. So the projected “crossover” point in 2018 is a meaningless milestone.

« »

By clicking and submitting a comment I acknowledge the ThinkProgress Privacy Policy and agree to the ThinkProgress Terms of Use. I understand that my comments are also being governed by Facebook, Yahoo, AOL, or Hotmail’s Terms of Use and Privacy Policies as applicable, which can be found here.