Social Security Stories from The Progressive Review MAY 2003 SOCIAL SECURITY AGENCY TO SEND FRAUDULENT SCARE MESSAGE TO MILLIONS LOS ANGELES TIMES - Your next annual statement from the government estimating your Social Security retirement benefits will state in blunt language that those funds are in jeopardy. As if today's workers weren't worried enough that Social Security will not be there when they need it, the Social Security Administration will tell them: "Action is needed soon to make sure that the system is sound when today's younger workers are ready for retirement." The warning, which the government plans to unveil today, will be included in the annual letter from Social Security to 138 missing life insurance policy missing life insurance policy million workers over the age of 25, estimating their benefits under various retirement strategies. The nation's elderly are its fastest-growing population group. The Social Security letter estimates that the number of people older than 65 will double within the next 40 years. Thus the number of Social Security beneficiaries will grow much faster than the number of workers who are paying the payroll tax. Tax revenue now far exceeds benefit payments, but the letter estimates that will last only 14 more years under current law. "By 2042," it warns, "the Social Security Trust Fund will be exhausted." WHY THIS IS A LIE 1. The trustees have to keep changing the day of fixing missing areas in feng shui missing life insurance policy Doomsday because they're repeatedly wrong. A chart by the Economic Policy Institute, illustrates some of these changes. According to the chart, the trust depletion date grew twice as fast as the trustee's annual reports. 2. The argument that there won't be enough workers left to pay for Social Security is statistically wrong, as the Left Business Observer illustrated in this chart. The number of workers per non-worker in our society is much higher than in the past. 3. The trustees use an inordinately pessimistic projection of economic growth when they make their predictions. This means, among other things, that there's no hope in privatizing the market, because if the trustees are people social security number missing life insurance policy right
