Posted on 07/12/2010 10:59:13 PM PDT by Libloather
The (Still) Missing Social Security Annual Report
It was supposed to come out April 1. Why it most likely won't come out until the end of the fiscal year.
Jagadeesh Gokhale and Mark J. Warshawsky, 07.12.10, 12:43 PM EDT
The Social Security's trustees' annual report is, by law, supposed to be published by April 1. This year, however, the trustees have postponed its release indefinitely. The program's financial condition continues to remain hidden from public view--and by many accounts will continue to be so until the end of the fiscal year.
The program's cash flow has been in the red for several months as payroll tax revenues have declined because of the recession. The recession and slow economic growth are worsening Social Security's long-term finances as well, as the latest Congressional Budget Office report on the long-range federal budget outlook confirms. According to liberal folklore, the Social Security trust funds will ride in to the rescue and are capable of plugging the revenue shortfall for a long time. Unfortunately, when it comes to those trust funds, there is no "there" there; they are just accounting devices--and the call on general revenues has already begun.
(Excerpt) Read more at forbes.com ...
It must be hideously bad
Which is scary to say the least
Until 2 years ago, it would have been unimagineable to have an administration with such an attitude towards the law. But now it’s just routine. If they can’t change a law that doesn’t suit them, they just ignore it.
Why they don’t just “deem” it reported like pelosi and reid did with the budget this year.I hate to see the “trustees” of social security adopt the criminal practices of congress.
They should be removed from this duty immediately.
Why are the Republicans not yelling out about this...call this administration on the carpet.........stand up to them!
“Why are the Republicans not yelling out about this...”
Boy, that could be a standing headline for most of the stories here on FR.
“Why are the Republicans not yelling out about this...”
Boy, that could be a standing headline for most of the stories here on FR.
YES
Timing! Better in October.
Okay. I’ll bite. What law says this report is due by April 1? I have looked around and can’t find this.
Google puked this - The Law Relating to Social Security - http://www.dwp.gov.uk/publications/specialist-guides/law-volumes/the-law-relating-to-social-security/
Help any?
“Help any?”
I’ll check it out. Thanks.
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