Top of the morning
If the health care debate whetted your appetite for more ways to poke holes in the talking points of the Limbaugh Right, economist Dean Baker has one for you. Social Security is not going broke.
The Congressional Budget Office projects that the program can pay all scheduled benefits through the year 2044 with no changes whatsoever. Even after this date it could still pay more than 75 percent of projected benefits long into the future (a level far higher than current benefits) even if no changes were ever made.
In fact, these projections show that Social Security is on a sounder financial footing today than it has been through most of its history since it can go 34 years with no changes being made at all. This was not true at any point in the first 40 years of the program’s existence.