The NYT apparently really wants Congress to cut Social Security. How else can someone explain the absurd comment that:

"Some administration advisers wanted him [Obama] to propose specific changes to fix Social Security, which has accumulated surpluses to date but before long will begin paying out more than it takes in from payroll taxes."

Of course the reason that Social Security accumulated surpluses was to cover the period after the baby boom is mostly retired when it is projected to pay benefits that exceed annual revenue. This is not a problem, it is part of the design of the program. If President Obama has any officials who do not understand this basic fact, then they are obviously way over their head.

 survey banner

subscribe today!

Site Maintenance

"The CEPR website currently takes longer to load than usual. We hope to have this and other issues addressed shortly. While this much needed site maintenance is taking place, our content is still available so please continue to slooowwwly surf the pages of our site. Thank you for your patience."