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Monday, January 17, 2005

Let's Hear the One About the "Impending Crisis" Again

"On the day the trust fund is exhausted, Social Security revenue will cover about eighty percent of the cost of benefits. Right now -- today -- if you look at the U.S. government outside of Social Security, revenue covers only about sixty-eight percent of total government spending. So on the day the trust fund is exhausted, forty-seven years from now, Social Security will be in better financial shape than the rest of the U.S. government is today. - Economist Paul Krugman, in this month's issue of Rolling Stone