2006 SS Trustee's Report low cost projection again shows no change needed!

[papau]

Actual SS Report link

http://www.ssa.gov/OACT/TRSUM/trsummary.html
http://www.ssa.gov/OACT/TR/TR06/tr06.pdf

There is just about no change in the actual projection beyond claiming another year - the year 2080 - where they expect a large deficit.

Once again a simple full benefit retirement age increase by 2050 from the current Reagan passed age 67 to say 70, plus a small increase in the wage cap, solves all problems with the results under the "intermediate assumptions" projection.

And the more likely - based on past results - "low cost assumptions" has again NO PROBLEM WITH CURRENT SYSTEM!

By 2080 we have a trust fund of $16,153 which is growing at $2 billion a year and which has never decreased year to year during the projection period.

Indeed removing the wage all together means WE REDUCE THE TAX RATE!

But you know how the media will report this ..... sigh

The 2006 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Disability Insurance Trust Funds, was issued on May 1, 2006. The report presents the current and projected future financial status of the trust funds.
Reading the Report
Table of Contents http://www.ssa.gov/OACT/TR/TR06/trTOC.html
List of Tables http://www.ssa.gov/OACT/TR/TR06/trLOT.html
List of Figures http://www.ssa.gov/OACT/TR/TR06/trLOF.html
Index http://www.ssa.gov/OACT/TR/TR06/trIX.html