Think Progess:
During last night's debate, Vice Presidential nominee Paul Ryan told 24 lies during his 40 minutes of speaking time. But in one instance, he was aided by debate moderator Martha Raddatz, who asserted that Social Security "is going broke":
RADDATZ: Let's talk about Medicare and entitlements. Both Medicare and Social Security are going broke and taking a larger share of the budget in the process. Will benefits for Americans under these programs have to change for the programs to survive? Mr. Ryan.
RYAN: Absolutely. Medicare and Social Security are going bankrupt. These are indisputable facts.
Mark Udall and Michael Bennet also subscribe to those lies and repeat them constantly.
Social Security is not broke and does not contribute one dime to our nation's deficit or debt.
Here's some more truth on those programs that are under assault by Republicans like Romney and Ryan, Democrats like Udall and Bennet, and 1%-ers like Pete Peterson, David Koch, and Jamie Dimon:
It is a scandal of modern American politics that a vital program presently needing no change at all, as far as solvency goes, is widely believed to be on a path to bankruptcy.
The program's unappreciated health can be verified by reference to the most recent annual report of the Social Security Trustees. If you trouble to look at Table VI.F4 you can see the cash shortfall in the program over the next 75 years is never more than 1.6 percent of GDP. There is no program deficit until 2033. How much is 1.6 percent of GDP?
Conventional Wisdom in DC held by politicians, pundits and the press is wrong. Yet they persist is perpetuating the lie, preparing to slash those programs, and pulling a "Bain" on all American citizens.
UPDATE: Obama/Biden leaving door open to Social Security and Medicare cuts. |
