Social Security reality

An editorial in today's NY Times points out the latest trickery being used to push Bush's privatization plan. Here is an excerpt:

"It's bad enough that the trustees began some of their calculations with that $10.4 trillion figure. It's arrived at by projecting the system's shortfall over infinity, rather than the usual 75-year time frame - as if the system's finances 10,000 years from now are a legitimate policy concern....

"Fortunately, the unpoliticized numbers in yesterday's report are not overly dire. Using a 75-year time horizon, the trustees project that the system will be able to pay full benefits until 2041, at which time it will be able to pay 74 percent of the promised benefits, falling to 68 percent by 2079. That works out to a gap of $4 trillion, which could be bridged with modest tax increases and benefit cuts, phased in over the next few decades. If people try to tell you different, they need to be set straight."