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Politics : Politics for Pros- moderated

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From: DMaA	9/22/2009 9:14:20 AM
	5 Recommendations Read Replies (1) of 793937

CBO says SS deficits are here NOW: Exclusive: CBO predicts Social Security cash deficits in 2010-11 posted at 8:48 am on September 22, 2009 by Ed Morrissey Share on Facebook \| printer-friendly Four years ago, George W. Bush attempted to reform the entitlement program Social Security, warning that the system was accelerating into collapse and would soon run deficits. Democrats scoffed and claimed the Social Security system was solid and wouldn’t have problems for at least 50 years, as Harry Reid told PBS’ Jim Lehrer in June 2005. Just last year, the CBO — under the direction of Peter Orszag, now budget director in the Obama administration — claimed that the first cash deficits in Social Security would not come until 2019. Now, however, the CBO has determined that Social Security will run cash deficits next year and in 2010, and by 2017 will be more or less in permanent deficit mode. Hot Air has exclusively obtained the summer 2009 CBO report sent to legislators on Capitol Hill but not yet made public, which shows that outgo will exceed income for the first time ever on an annual basis in 2010: hotair.com

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