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February 01, 2005

GAO: Social Security a Minor Problem

This GAO report is astonishing, if nothing else for the personal voice of the Comptroller General basically screaming that we are facing a fiscal train wreck. But this line has got to hurt (p. 12), discussing the analysis of a broad range of folks involved in the report's conclusions:

Participants acknowledged the need for Social Security reform but emphasized that Social Security is a relatively small part of the long-term fiscal challenge when compared to spending on health care. One participant noted that the estimated Social Security shortfall is about one-third the estimated cost of recent tax cuts if made permanent.
Repeat that-- No Permanent Tax Cuts, Social Security "crisis" Solved.

Posted by Nathan at February 1, 2005 01:34 PM