When you take the surpluses of the Social Security trust fund into account, Social Security is in better shape. It can cover its shortfall until 2025 with the interest it has earned over the years on the trust fund. Starting in 2025, the program has to begin dipping into the principal of the fund. It is projected to exhaust the entire trust fund in 2037.
More here and here and here.
Maybe Hart has been hanging with Alan Simpson, who has been lying about Social Security as long as he's been bald. But I know Michael Bennet, and presume that Mark Udall, would love nothing more than to be able to quote The Esteemed Gary Hart and say we need to cut Social Security right now before we all die!!!!
Not only would they all be wrong, but they'd be taking the losing position politically and Republicans would still attack them for doing the very thing they want them to do!
I sincerely hope Senator Bennet takes some time out of his busy day, learns some facts about our nations finances, and Social Security, and earns some of his very high salary for a change while improving his standing as a lawmaker - as opposed to his evident political skills.
Bennet will never have to worry about his, or his childrens', or their childrens' retirement. But with intellectually lazy senators like Bennet and Udall, and forsake Hart!, on the prowl, we all need to worry about our retirement until the day it starts coming in. |
