bush's "culture of lies"

[AVID]

BUSHLIES.NET'S TOP 10 (NEW!)

LIE #1

SOCIAL SECURITY “CRISIS”

Thirteen years from now, in 2018, Social Security will be paying out more than it takes in. And every year afterward will bring a new shortfall, bigger than the year before. For example, in the year 2027, the government will somehow have to come up with an extra $200 billion to keep the system afloat -- and by 2033, the annual shortfall would be more than $300 billion. By the year 2042, the entire system would be exhausted and bankrupt. If steps are not taken to avert that outcome, the only solutions would be dramatically higher taxes, massive new borrowing, or sudden and severe cuts in Social Security benefits or other government programs.

-- 2005 State of the Union Address

“This passage contains three statements worth scrutiny. First, the statement that starting in 2018 the government "will somehow have to come up with" extra billions to stay afloat ignores the fact that there exists a substantial trust fund now invested in US treasury bonds and will make up the shortfall for several decades. Second, the nonpartisan Congressional Budget Office has projected the trust fund will be exhausted in 2052; the year 2042 is an older figure that came from the Social Security Trustees, who used a different set of economic assumptions. Finally, even after 2052, the Center on Budget and Policy Priorities has noted the system could still pay out 80 percent of normal benefits without new taxes or borrowing.”

In addition, the head of the non-partisan General Accounting Office testified before Congress that Social Security “does not face an immediate crisis”.


Source: Savage, Boston Globe (02.03.05), Associated Press, Los Angeles Times (03.10.05)

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[mmonk]

1. That's it!

Culture of lies. Love it.

[AVID]

2. addicted to lies

he just can't stop at one!!