I’ve observed it before, but it deserves repeating. Social Security is NOT the cause of any present or future Federal government deficits. Social Security is NOT financially troubled. Social Security IS financially sound. To the extent the Federal government has a deficit problem (which in reality is much less than people think, but that’s another topic), it is not due to Social Security. Mark Thoma says it clearly:
Barking Up the Wrong Tree: Social Security is *Not* the Problem
[Source: CBO]Though there seems to be a concerted effort to get people to believe otherwise, Social Security has very little to do with our long-run budget problem.
I think a couple of the comments that Mark received on this post also shed some light on why we’re told we need to cut Social Security:
reason said…The only people with a serious interest in undermining SS are Wall Street. They should be hung, drawn and quartered. Political reform is desperately needed in America (as is an informed, critical public and more transparence – but one thing at a time).
bakho said in reply to reason…Great Graphic. This graphic should be posted once a week and used as widely as possible to educate the media and the politicians.
SSTF is a huge pot of money. Wall Street salivates at the thought of collecting fees on $Trillions in long term investments.
EconProph 
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