"If Social Security reform is dead, then how come so many people are still trying to kill it?" This shrewd observation made by Donald Luskin correctly points out that Social Security reform is not on the backburner. Thanks in part to the opposition, the issue is very much alive.
As Luskin continues,"It can't die. Reform is inevitable, because the Social Security system really is in crisis, in the sense that the accounting mirage of the Trust Fund doesn't hold any real assets to pay off the system's obligations."
We will get a new chance to find out just how bad the crisis has become on Monday because the word on the street is that the 2006 Trustees Report is going to be released. The chances that Trustees will find that Social Security magically reformed itself are zero, so we can see just how much damage Congress's failure to give us personal accounts last year has caused.
Be sure to check back in on Monday for a full update on the Trustees Report, and in the meantime you can prepare for the release of the report by reading Luskin's article here.
