Thursday, February 03, 2005

With the number of elderly Americans set to double by 2030, the baby boom will become a senior boom. So first, and above all, we must save Social Security for the 21st century....

Today, Social Security is strong. But by 2013, payroll taxes will no longer be sufficient to cover monthly payments. By 2032, the Trust Fund will be exhausted and Social Security will be unable to pay the full benefits older Americans have been promised.


President's State of the Union Address - given by Bill Clinton - February 1999.

So here we are 5 years laters, with a deficit about a trillion dollars larger and Bush gets audible derision when he suggests that the system will become insolvent 10 years later than Clinton did. And Clinton was speaking at the pinnacle of a huge economic expansion!

I'm not sure if this is a reflection of the hypcorisy of the Democratic Party in general as much as that of the individual Democrat Senators, 80% of which (35 out of 44) were on the floor applauding for Clinton.

Then again, after reading through this post at on "MSM Social Security SOTU Coverage", you may believe the hypocrisy extends to a certain liberal-heavy profession.

Will someone please explain to me how our Social Security system has become so strong after five years of a wekaer economy that the Left claims there is now no crisis at all?

Social Security - Inventing A Crisis - Paul Krugman, professor of economics

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