Here’s John Quinterno of the Progressive Pulse in another attempt to make down-into-up, false-into-true:
This week marks the 73rd anniversary of the establishment of Social Security.
And for a 73-year-old, Social Security remains in surprisingly good
shape despite the passage of time and repeated attempts to undermine
America’s signature social insurance program.
What constitutes "good shape," Mr. Quinterno?
This: The Impending Fiscal Challenge? by economists at the Federal Reserve bank of Kansas City.
"The difference between expenditures and dedicated revenues is projected to grow over time. In 2018, this deficit is only 0.16 percent of GDP. However, the deficit is projected to grow to 1.1 percent of GDP by 2027 and 1.5 percent by 2040. This situation is clearly not sustainable."
Or this from the Government Accountability Office?
"The “Status Quo” Is Not an Option: We face large and growing structural deficits largely due to known
demographic trends and rising health care costs. GAO’s simulations show that balancing the budget in 2040 could require actions as large as cutting total federal spending by 60 percent or raising federal taxes to two times today’s level."
I’m now convinced. No, not that Social Security is in good shape. I’m convinced progressives have fully embraced Lenin’s dictum: "A lie told often enough becomes the truth."