The Social Security Administration released the 2006 Trustees report yesterday. Among the shocking findings is the fact that failure to reform the system last year will cause the Trust Fund to be exhausted in 2040--one year earlier than expected.
The Trustees stated in their Message to the Public that
The fundamentals of the financial status of the Social Security and Medicare remain problematic...We do not believe the currently projected long-run growth rates of Social Security or Medicare are sustainable under current financing arrangements.
Put otherwise, Social Security is in serious trouble according to the experts.
John Rother, Policy Director at AARP, appears not to have read this statement before AARP sent out their press release about the report yesterday. According to Rother, "Today's report on Social Security should reassure Americans approaching retirement that this system remains strong."
S4 would like to ask John Rother: "are you serious?"
It seems this is just one more instance of AARP blatantly misleading the public.
