DESPITE WHAT YOU MAY HEAR FROM REPUBLICANS, LISTEN TO DEMOCRATS ON SOCIAL SECURITY
Get ready for the pro-Paul Ryan austerity headlines that will predict an imminent demise of Social Security. On April 23, the Social Security Trustees Report for 2012 is expected to be released – and you can expect that the shills for the one percent will be blaring that seniors may need to live on cat food if the US is going to be saved from financial ruin. But an advance analysis of the report on the financial status of the program, posted on NiemanWatchdog, argues that “last year’s report projected that at the end of 2011, Social Security would have an accumulated surplus of around $2.7 trillion, which it now has. This year’s report will show that it will be even higher at the end of 2012.” That’s right, the current $2.7 trillion surplus of Social Security funds is expected to rise by the end of this year.
[Forget the Scary Headlines: Social Security Has More Than a $2.7 Trillion Surplus]