March 23, 2005

Social Security: Now Healthier Than Ever!

Hm. I'm taking a look at the new Trustees' Report over at MoJo, but check out this very important graph below:

Notice anything? Look at the blue line! The long-term balance of the program has actually improved from last year to this year. Indeed, as the Trustees' report itself says, "After 2030, however, the annual balances [for Social Security] in this year's report are larger." Now the media will focus on the fact that the Trust Fund expiration date has moved from 2042 to 2041, but that's a meaningless number. No, the graph above says it all. Even with a bit of assumption-fiddling from the Trustees, and a shake of doom-'n'-glooming, Social Security has actually gotten healthier from last year to this year.
-- Brad Plumer 1:32 PM || ||