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Article: Call off the 'crisis'? Social Security's solvency grows.(Features)(Work & Money)
- Article from:
- The Christian Science Monitor
- Article date:
- February 12, 2001
CopyrightCOPYRIGHT 2001 The Christian Science Publishing Society. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Social Security financing "crisis" - if it can be called that - keeps fading into the distance. The Bush administration may well have a hard time finding a crisis sufficient to justify partial privatization of the nation's key pension system.
In their annual report last spring, the Social Security trustees calculated that the system's trust fund would run out of money in 2037. After that, the system would only be able to pay about 70 percent of benefits from payroll tax receipts.
Two news items suggest the trustees could push off the crunch further in their next annual report.
One is the Congressional Budget Office's growth projections ...