The metamorphosis of taxes into weapons of destruction is the mark of present-day public finance. -- Ludwig von Mises

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The Official Blog of National Taxpayers Union

New Social Security Trustees Report is Available

Posted by Demian Brady - April 23, 2007

The Social Security trust fund will go bust in 2041, a year later than was forecast in last year's report. The AP calls this "good news," but unfunded liabilities over the next 75 years stand at $4.7 trillion - up a $100 billion since last year.

The Trustees also join (see the Conclusion) the Government Accountability Office's Comptroller General, Fed Chair Bernanke and others in admonishing Congress to act sooner rather than later to reform Social Security.

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