Karoli (of Crooks and Liars) decimates claims that Jake Tapper made today about Social Security on ABC’s ‘This Week’, emphasis mine:
Social Security is a retirement plan. It is not an "entitlement" in the sense that we're a bunch of little piggies with our snout in the bowl snuffling for more. It is part of the tools we have used for our entire working lives to plan for retirement. Start with that. Calling Social Security and Medicare "entitlements" is a right-wing frame intended to make them sound like some kind of handout. They are EARNED. They are earned with the sweat of every working person's brow. Someone should tell Tapper that.
Next, lose the whole nonsense whine about the baby boomers. Boomers' retirement benefits under Social Security were accounted for and funded from the Reagan Administration forward. No one but Jake Tapper, evidently, is surprised that baby boomers are retiring now. This, by the way, is why some of us in that generation have to wait until we're 66 or 67 to retire. We were staggered in order to extend the life of the fund without forcing higher payroll taxes.
It should also be known that if the wage base upon which Social Security benefits are funded had been raised instead of frozen for several years, there would be more money in the fund. However, Tapper is simply incorrect about it being "out of money in 20 years."
That's false. As in a total falsehood, as in a lie, Romney-style. Tapper should have to retract that publicly and apologize for his scare tactics.
Here, straight from the 2012 Trustees' report, is the projection on Social Security:
After 2020, Treasury will redeem trust fund assets in amounts that exceed interest earnings until exhaustion of trust fund reserves in 2033, three years earlier than projected last year. Thereafter, tax income would be sufficient to pay only about three-quarters of scheduled benefits through 2086.
So no, Jake Tapper. Social Security is not "bankrupt" in 20 years. I would like for you to find one other government program that is able to provide full benefits through 2033, and 75% through 2086 without any change to it. Just one. Go ahead.
Why is it that it is so rare for major media news people to actually understand the issues about which they report? It boggles my mind that these people are even allowed to speak about the most important issues because they usually manage only to completely misinform the American public. And I’m not even talking about Fox Cable News, which is, of course, the worst.
This is why I can no longer stand to watch the Sunday shows.