Story off the AP wire via MSNBC:
The Bush administration said Monday the only way to permanently fix Social Security is through some combination of benefit cuts and tax increases.
That was one of the key findings in a new paper on Social Security released by the Treasury Department in an effort to achieve common ground on the politically explosive issue.
“Social Security can be made permanently solvent only by reducing the present value of scheduled benefits and/or increasing the present value of scheduled tax increases,” the paper said. The Treasury paper said that while other changes to the giant benefit program might be desirable “only these changes can restore solvency permanently.”
Unfortunately, these clowns completely forget to mention that uncapping the SS contribution or raising the interest rate for raiding the surplus would fix the problem permanently…